A BERGH PROFIT

Press, Volume CIII, Issue 30575, 19 October 1964, Page 18

A BERGH PROFIT

Slight Rise To £22,448

Keen competition and increased expenses held Christchurch hardware merchant, Ashby Bergh and Company Ltd.’s profit to £22,448 to the year to July 31—a rise of £2l. The profit is after allowing £2998 more for depreciation at SXm and £566 less for taxation at £21,717. After the transfer of £4OOO to general reserves now at £178,000, carry-forward is £22,520 (£21,809 last year). Total shareholders* funds rise £5020 to £505,477 but earning rate drops from 4.5 per cent to 4.4 per cent. Ordinary dividend is a steady 12j per cent and takes £17,500. Ratio Reduced Land and buildings bought from C. E. Otley Ltd., reduced the ratio of current assets to current liabilities, says the chairman of directors (Mr C. W. Evans) in his report. Current liabilities rose £160,514 to £355,607 and includes a new item of £90,000 which is unpaid balance of the C. E. Otley purchase. Fixed term liabilities are steady at £46,000. Current assets rose £53,505 to £612,778 and fixed assets are £112,029 higher at £294,181.