BRADFORD COTTON
Profit Good, Dividend Up (N.Z. Press .4jsn.— Copyright) MELBOURNE, April 28. Bradford Cotton Mills earned consolidated net profit of £369.695 in the six months to December 31, the company’s audited half-yearly balance sheet revealed. In a preliminary profit estimate in February, directors said profit for the period was about £379.000. Bradford’s chairman (Sir Robert Webster) said that during the half-year the basis on which sales were made by subsidiaries to the parent company was changed. Therefore, the profit is not strictly comparable with that of previous periods. No comparative figures are available for the corresponding period of 1963.
Profit was after providing £362,758 for depreciation, £258,390 for tax and £127.120 for interest on fixed-term loans. Interim dividend for the period was increased from 4 to 5 per cent. Last year total distribution was 10 per cent, and profit was £542,623.
J. Merer Div.— J. Mercer Industries, Cliristchurch-based sheet metals workers, coppersmiths. brass founders and engineers, will pay a final 3i per cent dividend on its si-6( f>er cent cumulative participatng preference shares, making 6i per cent for the year; ex dividend May 18.—iP.A.)
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Bibliographic details
Press, Volume CIV, Issue 30737, 29 April 1965, Page 23
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185BRADFORD COTTON Press, Volume CIV, Issue 30737, 29 April 1965, Page 23
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