W.S. GROUP PROFIT

Press, Volume CIII, Issue 30562, 3 October 1964, Page 20

W.S. GROUP PROFIT

Rise Of 24 p.c. To £902,767 (N.Z. Preu Association) . WELLINGTON, Oct 1. Group net profit of Wright Stephenson and Company, Ltd/for the year to June 30 was £902,767, against £723,070 the previous year—a rise of £179,697 or 24 per cent It represents an earning rate of 8.36 per cent (7.34 per cent) on shareholders’ funds, £954,848 higher at £10,804,194. Group turnover increased by £14,121,282 to a record £78,759,819, of which £4,557,575 related to overseas* activities. Profit result was after provision of. £409,171 (£346,452) for depreciation and £848,450, less £15,000 Overprovided in previous years (£595,451 -less £25,000) for tax. It is also after deducting £7889 attributable to minority interests. Dividends Preference dividend takes £53,550 (£51,000). The rate has been restored from 5 to 5J per cent a year and the first payment at the higher rate is for the six months to June 30. . Ordinary dividend at a steady 10 per cent takes £521,131 (£465,531) and is covered 1.6 times. Of the net profit 36 per cent (29 per cent) is retained. Paid capital at balance date was £5,235,310 (£4,655,310) ordinary and £1,020,000 (unchanged) preference. Reserves are £4,548,884 (£4,174,036), including £1,838,944 (£1,792,182) in capital reserves. Record Profit By D.I.C. (N.Z. Press Association) WELLINGTON, October 2. A record profit of £102,248 was earned by D.1.C., Ltd., in the latest year. Last year’s profit was £96,163. . Directors recommend a steady ordinary dividend of 8 1-3 per cent and final 2i per cent preference dividend making 5 per cent for the year. Books dose from October 21 to November 11, ex dividend October 21, payable November 11. Future Plans Of C.F.C.A. Worth-while projects to develop the potential production of South Canterbury should be encouraged, says Mr G. B. Baker, chairman of Canterbury Farmers’ Co-operative Association, in his annual report. “Directors are convinced that the progress of the association is closely related to the development of the district,” says Mr Baker. A move to expand the local fishing industry had been made by directors who have three representatives on the directorate of . the Timaru Fishing Company.