J. MERCER PROFIT
14 p.c. Rise To £35,635 J. Mercer Industries, Christchurch coppersmiths and sheetmetal workers, lifted its profit by £4402 or 14.1 per cent to £35.635 in the year to February 28. It was after providing £1248 more at £16,870 for depreciation and £4575 more at £35,550 for taxation. Steady 10 per cent ordinary and 6i per cent preference dividends will again take £16,937. After provision of £95 for donations and £2016 for further tax, balance carried forward is £131.866, against £112,609 brought in.
Shareholders’ funds are £19,725 higher at £393,291. Average earning rate is higher at 9.3 per cent against 8.7 per cent last year. Successful Year
The latest year was the most successful on record, says the chairman of directors (Mr J. Mercer) in his annual report. Record sales and production were again achieved, and a trade mission to South-east Asia obtained contracts for exporting equipment to Malaysia.
Current assets are £89,942 higher at £542,327, largely because of stock, £70,479 higher at £364,083. Current liabilities are £69.913 higher at £351,850. Bank overdraft is £235,850, against £192,017 last year. Fixed assets are £19,387 higher at £326,217, while fixed liabilities, a mortgage, is £11,340 higher at £140,315.
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Bibliographic details
Press, Volume CIV, Issue 30739, 1 May 1965, Page 20
Word Count
198J. MERCER PROFIT Press, Volume CIV, Issue 30739, 1 May 1965, Page 20
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