ZEALANDIA MILLING
Decline In Profit Net profit of £3334 was made by Zealandia Milling Company, Christchurch, in the year to December 31, compared with £5769 the year before. Profit is after allowing £4397 for depreciation against £4323 the year before and £2500 less for tax at £1650. Steady 8 per cent dividend for the year plus 2 per cent bonus takes £2975. Carry-for-ward is £15,147 against £15,743 brought in. Earnings rate on average shareholders’ funds declined from 10.4 per cent to 6 per cent. Capital reserves is down £lO5 to £4OO and general reserve is steady at £237. Current assets are down £2134 at £42,078 and fixed assets have been increased by £3300 to £32,642. Current liabilities are £1877 higher at £19,186. Directors plan to ask shareholders to approve revision of the company’s articles so that stock exchange listing can be sought.
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Bibliographic details
Press, Volume CV, Issue 31043, 26 April 1966, Page 21
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142ZEALANDIA MILLING Press, Volume CV, Issue 31043, 26 April 1966, Page 21
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