ARNOLD AND WRIGHT
Profit Rise Shown (N.Z. Press Association) WELLINGTON, Oct. 1, Audited accounts of Arnold and Wright, Ltd., Wellington radio, electrical and lighting merchants, show consolidated net profit after tax £1245 higher at £15,917, according to the Stock Exchange Association. Recommended ordinary dividend is 12£ per cent, against 15 per cent last year. This will permit the transfer to general reserve of £5500, making £40,015.
The balance carried forward in the profit and loss account increased from £7736 to £9365. The reduced dividend is In accordance with the review by the chairman (Mr L. R. Arnold) at the last annual meeting. Then he indicated that the directors might deem it prudent during the next few years to retain a greater proportion of the profit in the business.
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Bibliographic details
Press, Volume CIII, Issue 30561, 2 October 1964, Page 17
Word Count
128ARNOLD AND WRIGHT Press, Volume CIII, Issue 30561, 2 October 1964, Page 17
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