CANTERBURY SEED
Profit Rises 12 p.c.
Net profit of Canterbury (N.Z.) Seed Company rose £47Bo—or 12.2 percent to £44,061 in the year to November 30 last. This is after allowing £11,268 more at £65,040 for outside shareholders’ interest in the Canterbury (N,Z.) Malting Company. Result is after £54,428 depreciation against £57,800 last year and tax £15,539 higher at £105,137. Steady 7 per cent dividend takes £20,234, £15,000 has been transferred to general reserve and carry-forward is £71,033 against £62,206 brought in. Profit is 7.3 per cent on shareholders’ funds £23,827 up at £607,295. Last year it was 6.7 per cent. Earning rate on capital, steady at £289,050 but now made up of 578,100 in 10s Shares, is 15.2 per cent against 13.6 per cent. General reserve moves up to £166,511 with this year’s transfer of £15,000.
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Press, Issue 30997, 1 March 1966, Page 23
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136CANTERBURY SEED Press, Issue 30997, 1 March 1966, Page 23
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