FIRTH CONC. PROFIT UP
Group Result Of £67,554 (N.Z. Press Association) AUCKLAND, Aug. 6. Consolidated net profit of Firth Concrete Industries, Hamilton, rose by £11,150, or 19.8 per cent to £67,554 in the year to March 31. Tax provision was £9828 higher at £60,726 and depreciation rose by £13,165 to £76,499, reflecting capital expenditure of more than £160,000 during the year. As announced, the dividend has been raised from 9 per cent to 10 per cent, requiring £27,820 and leaving a carryforward of £79,661, a rise of £36,319. Earning Rate Earning rate on shareholders’ funds fell to 12.5 per cent from 15.3 per cent. However, although these funds were £171,100 higher at £540,212, they included £110,753 in capital and premiums arising from the one-for-five premium issue a month before balance-date. If this issue is disregarded, the profit is equal to 16 per cent on funds. Consolidated balance-sheet shows paid capital up from £300,000 to £380,000 in 20s shares, after the premium issue and a take-over allotment. Directors propose to subdivide the existing 20s shares into 10s units.
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Press, Volume CIV, Issue 30823, 7 August 1965, Page 20
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177FIRTH CONC. PROFIT UP Press, Volume CIV, Issue 30823, 7 August 1965, Page 20
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