SCHOFIELD PROFIT
43.3 p.c. Lift Shown f.V.Z. Prexs Association) AUCKLAND, July 13. In its first year as a publicly listed company, Schofield and Company. Auckland Holden and Chevrolet distributor, lifted net profit by 43.3 per cent, or £29.352, to £96,070 in the year to March 31. The result was struck after providing £95.435 for taxation, against £66,308 last year, and £4551 for depreciation, against £4854. The profit represents an earning rate of 22.8 per cent on shareholders’ funds of £421,228. The previous rate was 20.3 per cent on funds of £333.999. An interim dividend of 20 per cent was paid in January, and a final of 5 per cent has now been recommended which will take £6900. making £34.500 for the year. This is £5750 more than last year's total. The company made a placement of 96.000 ordinary 10s shares as from January 31. broadening the shareholding to include other than familv shareholders, and then Stock Exchange listing was obtained. Before this a cash issue had been made at par to existing shareholders. The balancesheet shows paid capital increased from £115.000 to £138,000.
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Press, Volume CIV, Issue 30804, 16 July 1965, Page 15
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183SCHOFIELD PROFIT Press, Volume CIV, Issue 30804, 16 July 1965, Page 15
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