SHARP LIFT IN PROFIT

Press, Volume CIV, Issue 30847, 4 September 1965, Page 20

SHARP LIFT IN PROFIT

Bartholomew’s Good Year (N.Z. Press Association) AUCKLAND, September 3. Bartholomew Timbers, Ltd., Hamilton, sharply increased consolidated net profit by £13,423, or 77 per cent, to £30,929 in the year to July 31 and will make a one-for-five bonus issue from capital reserves.

As indicated by the higher interim dividend, total payout has been raised from 7 per cent to 8 per cent. Directors propose to split the £1 shares into 10s (one dollar) units. The profit, announced in a preliminary statement today by the chairman (Mr L. N. Ross) includes 16 months’ results by T. S. Henry, Ltd., taken over early last year. Result was after providing £2264 more for depreciation at £9571 and £11,900 more for tax at £29,300. Earning Rate

It represents an earning rate of 13.1 per cent on capital, compared with 8.8 per cent after deduction of the capital issued for T. S. Henry last year. In addition to the trading profit, the group made capital profits of £25,872 from the sale of land during the year.

This took capital reserves from all sources to £101,525. The proposed one-for-five bonus issue will be made from these reserves and the new shares will be free of tax in the hands of the shareholders, subject to approval by the Inland Revenue Department. The bonus issue will be made on holdings as at October 21 and will raise paid capital, all ordinary, by £47,000 to £282,000. Ex bonus issue October 22.

Final dividend of 4 per cent is payable on October 21, ex dividend October 15.

1:4 Cash Issue By McKendrick (N.Z. Press Association) WELLINGTON, Sept. 3. McKendrick Consolidated Industries, Auckland-based carpet manufacturer and yarn spinner, will make a one-for-four cash issue at par, exrights September 25. Directors recommend a steady ordinary dividend of 7} per cent and a final preference dividend of 3j per cent, ex dividend September 25 and payable September 30.

C.R.A. Proposal Withdrawn

(N.Z. Press Association) WELLINGTON, Sept. 3. Conzinc Riotinto of Australia has withdrawn its notice of intention to bid for outside shares in Mary Kathleen Uranium. After Kathleen Investments (Australia) and the WaltonMcConachy syndicate announced that they were unwilling to accept the proposed offer, C.R.A. did not feel that a fonjial offer would be accepted by holders of sufficient stock units to justify it being presented.

Metals (N.Z. Press Assn.—Copyright) LONDON, September 2. Latest London Metal Exchange prices for spot supplies are as follows: Buyers. Sellers

Copper £ ton a ton s d £ s d . 477 10 0 400 0 0 Tin . 1521 0 0 1522 10 0 Lead . 102 0 0 102 5 0 Zinc . 108 5 0 108 7 6