MAPLE NET PROFIT
Another New Peak
(N.Z. Press Association) AUCKLAND, April 25.
After sales that again reached record levels, the Maple Furnishing Companies, Ltd., lifted consolidated net profit in the year to March 31 by 13 per cent to a fourth successive peak. At £71,460, the result was up £8228 on the year before and took the earning rate on shareholders’ funds up from 7.7 to 8.4 per cent. It was after providing £10,250 more for tax at £71,050 but £1306 less for depreciation at £22,128. It was also after adding £5310 more to the provision for deferred profit on hire purchase accounts, taking the total withheld profit in this account to £250,092. Gross profit was £8559 higher at £203,189 while interest charges and fees were down from £35,101 to £33,628. Ordinary dividend is unchanged at 11 percent and with the 5 per cent preference charge again takes £42 004 After writing off £2993, the value of buildings demolished, the carry-forward is £174,241 against £147,778 brought in. The consolidated balancesheet shows shareholders’ funds £26,463 higher at £851,369.
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Bibliographic details
Press, Volume CV, Issue 31043, 26 April 1966, Page 21
Word Count
177MAPLE NET PROFIT Press, Volume CV, Issue 31043, 26 April 1966, Page 21
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