MOVE BY CLASSIC
Nom. Capital Increase (N.Z. Press Association) AUCKLAND, September 1, Classic Manufacturing Company, Ltd., proposes to subdivide the existing £1 ordinary shares into 5s units, and lift nominal capital from £125,000 to £200,000 in 5s shares. The chairman (Mr K. J. Palmer), says in his annual report that the directors see the need to expand production facilities of the company. The consolidated accounts show that in the year ended June 19 group net profit rose by 85.96 per cent, or £5921, to £12,809. Earning Rate
The result, which lifted the earning rate from 4.6 per cent to 8.4 per cent on shareholders’ funds, £5059 higher at £152,931, was reached'after a 20 per cent increase in group sales.
This produced a gross profit of £96,936 against £72,351. Expenses were £10,493 higher at £67,296, while tax provision required £6698 more at £11,748 and depreciation absorbed £5083 against £3556. Dividend As announced, the dividend Was restored from 4 per cent to 5 per cent, taking £6250 against £5OOO, and leaving a carry-foward of £27,931 compared with £22,872.
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Bibliographic details
Press, Volume CIII, Issue 30535, 2 September 1964, Page 21
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176MOVE BY CLASSIC Press, Volume CIII, Issue 30535, 2 September 1964, Page 21
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