T. AND J. RESULT
Profit Lifts 59.7 p.c. (N.Z. Press Association) WELLINGTON, July 20. Turnbull and Jones, Ltd., Wellington electrical ’ merchants, engineers and manufacturers, today announced increased profit and dividend distribution. Group net result for the year to March 31 last improved by 59.7 per cent. Dividend, on capital, increased by the one-for-five bonus issue four months ago, is 8 per cent. Latest result, announced in a preliminary statement, is £80,123, a record for the company. Last year’s tax-paid profit was £50,186. Equal To 10 P.C. Recommended 8 per cent dividend is equal to 10 per cent on pre-bonus capital. A 9 per cent ordinary dividend has been made for the last five years. At the bonus issue in March, directors said a 7 J per cent dividend will probably be recommended on the increased capital. The preliminary release says earning rate on shareholders’ funds for the term just ended is 9 per cent. Compared with 6.8 per cent last year and 7.6 per cent in 1963.
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Press, Volume CIV, Issue 30808, 21 July 1965, Page 21
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167T. AND J. RESULT Press, Volume CIV, Issue 30808, 21 July 1965, Page 21
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