EQUITABLE BUILDING
Higher Net Profit (N.Z. Press Association) WELLINGTON, June 2. The equitable building and Investment Company of Wellington made a consolidated net profit of £B9OO in the year to March 31 compared with £7654 in 1965. The directors recommend a final dividend of 3J per cent making 64 per cent for the year, plus an additional bonus of 1 per cent 71 per cent in all. Current assets total £39,273, compared with £59,058 in 1965 while investments, at cost, are £305,508 (£297,508). Fixed assets are £15,652 (£15,314) while goodwill remains at £2200. Total liabilities, at £150,941, are £31,561 less than the previous year, while total shareholders funds are £7624 up at £174,707.
The consolidates accounts include the trading of the subsidiaries, Equitable Agencies, Ltd., Equitable Properties, Ltd., and R. W. Short and Company Ltd.
The 10s shares were last sold at 14s 6d, to yield 5.17 per cent on the 7J per cent dividend, which is covered 1.14 times.
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Bibliographic details
Press, Volume CVI, Issue 31076, 3 June 1966, Page 13
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160EQUITABLE BUILDING Press, Volume CVI, Issue 31076, 3 June 1966, Page 13
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