SOUTHLAND F.M.

Press, Volume CV, Issue 30998, 2 March 1966, Page 21

SOUTHLAND F.M.

Profit Drop Confirmed (N.Z. Press Association) INVERCARGILL, Mar. 1. Net profit of Southland Frozen Meat and Produce Export Company dropped by £230.879 to £190,561 for the 11 months ended October 1, 1965. This is confirmed in the company's full accounts. The 1964 profit was £421.440. Final dividend for the period is 6 2-3 per cent making 8 1-3 per cent for the year on capital increased by a one-for-two bonus issue during the year. This gives the same return as the previous year’s 12$ per cent dividend. Interim dividend took £37,500, and final dividend takes £150,000, leaving £82,244 to be carried forward to next year, against £79,183 brought in. Capital Higher Capital is now £2.250,000 — £750,000 higher than last year. Revenue reserves are substantially down on last year. No transfer has been made to the reserve for building (£lOO,OOO last year) or to the reserve for market fluctuations (£30,000) or to the reserve for plant replacement (£100,000). Building reserve is down from £450,000 to £250,000, fire insurance reserve has been liquidated from £200,000 to nothing, market fluctuations reserve is down from £500,000 to £150,000, and plant replacement reserve is steady at £200,000. Shareholders’ funds are £2,932,244, compared with £2,929,183.

Take-over By Crothalls (N.Z. Press Association) WELLINGTON, March 1. Crothall and Company, Ltd., Dominion wide cleaning and domestic service contractor, has acquired all the share capital of Milson’s cleaning Service, Ltd., of Nelson. Milson’s is the largest commercial cleaning company in Nelson. Consideration is by cash. Existing staff will continue in employment and Crothalls will run the business as part of its main company. Rise In Boner Bull Schedule (N.Z. Press Association) WELLINGTON. March 1. An increase of 5s per 1001 b has been announced in the meat operators boner bull schedule prices to producers, for the week ending March 5. The price is now 142 s 6d per 1001 b. In the South Island there is only one grade of boner bull beef. ’ All other prices are unchanged. Business Personal Mr I. D. Reid has been appointed a director of Turnbull and Jones, Ltd., and will join the board in April. Mr Reid is a partner in Watkins, Hull, Wheeler and Johnston and is a director of Felt and Textiles, Ltd., the Wellington Gas Company, Ltd., Whitcombe and Tombs, Ltd., and Victoria Laundry Company, Ltd.—(P.A.)

D. and M. Interim.— Steady Interim 5 per cent dividend will be paid by Dental and Medical Supply Company, Wellington, on April 1; ex dividend March 22. Total payout last year was 12J per cent. —(P.A.)