G. BOWRON YEAR

Press, Volume CIII, Issue 30528, 25 August 1964, Page 19

G. BOWRON YEAR

Net Profit Of £29,500 (N.Z. Press Association) DUNEDIN, Aug. 24. Consolidated pre-audit net profit of Guthrie Bowron and Company, Ltd., Dunedin paint and wallpaper merchants, was £29,500 for the year to June 30 compared with a net profit for the parent copipany last year of £26,136. Directors have recommended a final dividend of 5 per cent on ordinary shares, making 9 per cent for the year on shares ranking for dividend as from July 1, 1963, and 5 2-3 per ce’nt on shares ranking for dividend as from December 1, 1963. A final dividend of 3 per cent on preference shares, making an unchanged 6 per cent for the year has also been recommended. Capital Increased Since the last balance, the ordinary capital has been increased from £72,000 to £120,000. The latest result was achieved dn a 9.5 per cent increase in turn-over by the parent company, which lifted gross income from £242,885 to £271,509 —a rise of 11.78 per cent. Expenses in the same period were up by 11.80 per cent at £211,641 (£189,309 last year). Taxation in the consolidated accounts- has taken £31,155 compared with £27,442 for the parent company last year. After the payment of dividends, £44,649 has been carried forward.. The annual general meeting of shareholders will be held on October 1 and the share register will be closed from September 25 to October 1.