AUCKLAND GAS
Profit Down £992
(N Z. Press Association)
AUCKLAND, May 25.
After writing-off £7605 of the company’s share of the costs of the survey of natural gas, the Auckland Gas Company returned a net profit of £992 lower in the year ended March 31.
Net result of £32.460, compared with £33,452 last year, was reached after lower provisions for tax and depreciation.
Earning rate declined from 3.8 per cent to 3.7 per cent on shareholders’ funds £8136 higher at £885,941. In meeting a demand for gas roughly the same as in 1964, the company had faced some production problems, the chairman, Mr A. G. Wilson, said in his report. Depreciation was £1435 lower at £82,059, while tax provision fell from £37,409 to £25.540.
Unchanged 5 per cent dividend again required £26.617, leaving a carry-forward £5843 higher at £29,764.
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Bibliographic details
Press, Volume CIV, Issue 30760, 26 May 1965, Page 19
Word Count
139AUCKLAND GAS Press, Volume CIV, Issue 30760, 26 May 1965, Page 19
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