REID RUBBER PROFIT UP
Fifth Peak Running (H.Z. Press Association) AUCKLAND, Nov. 18. Consolidated net profit of Reid New Zealand Rubber Mills, Ltd. in the year to August 31 rose by £28.356, or 11 per cent, to the fifth successive peak. At £286,904, the result compared with £258,548 the year before and £221,407 in 1961-62. It represents an earning rate of 12 per cent on shareholders’ funds totalling £2,399,713, compared with 11.6 per cent on funds of £2,237,163 at balance-date last year. The result was struck after providing £17.507 more for tax at £287,920 and £28,178 more for depreciation at £203,932. The later figure includes £26,542 for special depreciation (last year £18,551). Trading profit was up £192.778 at £1.669,011 and other income increased by £7582 to £16.483 but expenses, apart from depreciation, were £126,319 greater at £906,738.
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Bibliographic details
Press, Volume CIII, Issue 30602, 19 November 1964, Page 18
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137REID RUBBER PROFIT UP Press, Volume CIII, Issue 30602, 19 November 1964, Page 18
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