N. CROPPER PROFIT UP
Dividend Also Higher (N.Z. Tress Association) AUCKLAND, June 29. After a 45.2 per cent jump in group profit of Neill Cropper Holdings, Ltd., Auckland manufacturer and merchant, directors propose an increase in the ordinary dividend from 7 J per cent to 8} per cent. The profit for the year ended March 31 rose from £101,472 to £147,137. Directors announce the lift follows an increase of £39,776, or 64.5 per cent in the 1962-63 year. The current profit after excluding preference charge gives an earning rate of 23.5 per cent on ordinary capital £lO,OOO higher at £607,300. Earning Rate
Last year the company earned at the rate of 14.4 per cent on average funds, 19.3 per cent on average ordinary capital, and 16.5 per cent on ordinary capital as at the balance date. Last November the company made a successful £363,750 cash bid for Pukemiro Collieries, Ltd., Auckland.
Directors give ho indication in the profit announcement of the extent to which any profit from Pukemiro has been included.
Its profit for the . year to August 31, 1963, recovered 74.5 per cent to £23,952. Directors intend to increase nominal ordinary capital from £lm to £2m.
The ordinary dividend will be paid in one sum on August 11, shares becoming ex dividend on July 24.
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Bibliographic details
Press, Volume CIII, Issue 30480, 30 June 1964, Page 17
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216N. CROPPER PROFIT UP Press, Volume CIII, Issue 30480, 30 June 1964, Page 17
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