COURTAULDS TRADING

Press, Volume CIII, Issue 30391, 16 March 1964, Page 14

COURTAULDS TRADING

Interim Div. Reduced (N.Z.P.A.-Reuter —Copyright) SYDNEY, March 13. Courtaulds (Australia), Ltd., rayon yarn maker, has reduced its interim dividend from 3i to 3} per cent in spite of higher profits for the half-year ended December 31. Dividend in 1962-63 was 7} per cent, including a final 4 per cent. Directors say in an interim report that sales and profit for the half-year were slightly higher than the previous corresponding period. Competition However, growing competition in the tyre fabric market had made price reductions necessary. This will result in a lower profit for the current halfyear, although demand 'continues at satisfactory levels, directors say. Profit of Courtaulds for the year ended June 30 jumped from £286,887 to £756,649 to equal an earning rate of 11.5 per cent on capital. The dividend, raised from 3 to 7} per cent, absorbed £462,675. Bid Accepted The chairman of Credit Services Investments, Ltd. (Sir Robert Macalister, of Wellington), announced yesterday that there had been a 100 per cent acceptance of the company’s offer for the whole of the share capital of Credit and Finance, Ltd. Castlemain Div.— Castlemain, Perkins, Ltd., Brisbane brewer, has declared a steady 6 per cent dividend for the half-year ended January 31. Directors say sales and net profit for the period were higher than in the corresponding period last year. —(P.A.) Carpenter Interim.—W. R. Carpenter Holdings, Ltd., Canberra holding and investment company, has declared an interim dividend at the rate of 4d per stock unit, equivalent to 15 per cent for the year; payable April 30, ex dividend March 27. Bonus shares do not participate.—(P.A.) Stock Yields Yields to maturity on Government stock traded in Christchurch last week: 3} per cent 15/6/65-66, £4 4s 2d per cent; 4} per cent 15/6/65, £4 6s 7d per cent and £4 4s lid per cent; 3} per cent 15/9/65, £4 4s 5d per cent; 3} per cent 15/6/65-66, £4 7s per cent; 5 per cent 15/8/66-68, £4 17s 3d per cent; 3} per cent 15/9/74, £5 Is 4d per cent. Details of transactions on the Christchurch Stock Exchange last week: Government stock, £21,510 (against £3650 last week); local body and company debentures, £9200 (£20,650); preference, 2303 (900); banks, 133 (2138); breweries, 3433 (3400); frozen meat, 2209 (2375); gas, 1288 (550); insurance, 4594 (1500); loan and agency, 3637 (2095); shipping, 600 (200); woollens and textiles, 6074 (10,717); miscellaneous Australian, 17,125 (19,225); miscellaneous New Zealand, 37,458 (38,305); mining, 100 (900); unlisted, 3450 (2988); total, 82,404 (85,293).