C.P.D. LIFTS YIELDS

Press, Volume CIV, Issue 30823, 7 August 1965, Page 20

C.P.D. LIFTS YIELDS

Group Sales Nearly £l3m. (N.Z. Press Association) WELLINGTON, August 6. Cable Price Downer increased earning rate on shareholders’ funds to 10.5 per cent in the year to March 31 against 9.1 per cent in 1964 and 8.5 per cent in 1963. Earning rate on ordinary capital rose to 17.3 per cent, from 15 per cent in 1964 and 12.7 per cent in 1963. Group sales for the year were £12,975.455, against £ll,750,164 in 1964, Accounts issued today confirm that consolidated net profit for the year was £351,097, against £307,493 the previous year. The result is reached after provision of £385,321 (£341,783) for depreciation and £336,892 (£302,548) for tax. There is no deduction for minority interests (£4229 last year), the minority shareholding having been purchased by Cable Price Downer. Dividend Payments Preference dividends take £25,583. Ordinary dividend, raised from 8 per cent to 9 per cent, takes £169,022.and is covered 1.9 times. Of the year’s profit, 44.6 per cent (42.9 per cent) is retained. Paid capital is unchanged at £1,878,031 ordinary and £438,695 preference. Reserves are £1,354.538 (£1,209.369), including £342,041 (£353,364) in capital reserves and £146,311 (£l2B 095) in C preference share redemption fund. Shareholders’ funds are £3,671,264 (£3,526,095). Net asset backing of the ordinary £1 shares is 34s 5d (32s lid). Current assets are £5,274771 (£5,028,935), current liabilities £3,192,578 (£3,031 - 708), fixed assets £2,555,903 (£2,317,176), term liabilities £1,107,050 (£905,610) and investments £140,218 (£152,592). Current assets include debtors £2,423,244 (£1,704,410), work in progress £865,365 (£996,481) and stocks £1,923,678 (£2,240,318).