DENTAL AND MEDICAL

Press, Volume CIV, Issue 30884, 18 October 1965, Page 19

DENTAL AND MEDICAL

Profit Lifted 12.9 p.c. (N Z. Press Association) WELLINGTON. Oct. 17. Dental and Medical Supply Company. Ltd., Wellington, lifted net profit by 12.9 per cent to £27.877 in the year to June 30 last. Dividend is unchanged at 12 J per cent the rate to which it was reduced last year after a 16.4 per cent profit drop from £28,735. Former dividend was 15 per cent. Profit was after providing £3400 more for taxation at £27,400 and £557 more for depreciation at £7457. Gross profit was £21.173 higher at £181,151 and selling and administration expenses' rose by £14.123 to £116,829. Steady dividend takes an unchanged £13.004 and £13,000 (1964, £12,000) is transferred to general reserve. Carry-forward A sum of £2OOO (last year nil) is also added to supernuation reserve. Carry-for-ward is £6764 (£6760). A one-for-four premium issue was made last April but it does not rank until the current,financial year. The improved profit is insufficient to maintain earning rates on increased capital and funds. That on shareholders’ funds eases from 12 to 10.4 per cent, and the rate on ordinary capital slips from 23.7 to 21.6 per cent. Total shareholders' funds are £266,855 (1964, £204,561). the rise being mainly attributable to capital increased bv the premium issue from £104,036 to £127.317. Reserves total £139,538.