ANDREWS & BEAVEN

Press, Volume CIII, Issue 30401, 28 March 1964, Page 18

ANDREWS & BEAVEN

Increased Sales

Reported

Directors of Andrews and Beaven, Ltd., manufacturers and distributors of agricultural machinery and spare parts, Christchurch, report that sales for toe eight months ended .February 29 increased apprbnmately 20 per cent, on those of the corresponding period in 196161 Substantial quantities of new plant have been in : stalled in the Moorhouse avenuq and Middleton works', and a tender has been accepted for a new works in Auckland to do final assembly of heavy industrial plant, toe main components of which are being manufactured'in the company’s south island factory. Forward orders for machinery are at a higher level than for the second half of 1963.

An interim ordinary dividend of 4J per .cent for the six months ended Deceinber 31 will be payable on April 22.

C.A.G.A. Note Deb. Issue

(N.Z. Press Assn.—Copyright) SYDNEY; March 26. Commercial and General Acceptance, Ltd, is going to the public again for £lm with an issue of debenture stock and unsecured notes.'

Interest rates offered on the debenture, stock are -identical with those for the previous issue: . ' . Top interest rate.is 6. per cent for five to 10 years debentures and the lowest rate is 4J per cent for 12 months’ stocks.

Clyde Ind. W.A. Bid Fails

(N Z. Press Assn.—Copyright) SYDNEY, March 26. Clyde Industries, Ltd, has failed in its-take-over bid for Western Australian engineer, Tomlinson Steel, Ltd. • Directors of Clyde advised the Stock Exchange that since acceptances received in respect of the offer were insufficient for its requirements the offer has now lapsed.

Nth. B.H. Expects Profit Rise (N.Z. Press Assn:—Copyright) MELBOURNE, March 27. North Broken Hill, Ltd., major silver-lead producer on the Broken Hill field, expects profit for the year to June 30 to rise from £1,532,000 to £3,218,000. The directors announced this ■ to the exchange after their meeting yesterday. Interim dividend has been raised from 5d a share to 9d a share and is payable on June 5 on fully paid shares, issued before December, 1961

Miller Holdings Div. Steady

(N.Z. Press. Assn.—Copyright) SYDNEY,. March 27 R. W. Miller (Holdings), Ltd., brewer and hotel, cob. liery and ship owner, reports that revenue and net profit for the half year ended December 31 “compares favourably” with the previous corresponding period.

Interim dividend, unchanged at 4’per cent, maintains the 8 per cent rate paid in 1962-63—the group’s first full year as a public .company. ■ • -

Directors say sales of Millers Brewery, Ltd.,. continue to increase. However, net profit a gallon has been adversely affected by increased wages and distribution costs.- -