DONAGHY’S ROPE
Profit Lifts To Record (N.Z. Preet AMoeiatton) DUNEDIN, June 20. Donaghy’s Role and Twine Company, of Dunedin, Increased its tax-paid profit slightly this year to a record £96,762—£243 more than last year. Depreciation was £lOO down at £44,500, but tax rose from £94,000 to £107,000. As announced the company has increased Ms. annual dividend from 10 to 11 per cent, requiring £06,000, compared with £60,000 previously. A transfer of £25,000 has been made to the general reserve, while the remaining £5762 of the year’s profits lifted the total of retained profits from £66,479 to £72,241. The year’s transfers and an adjustment for land purchase have lifted total shareholdem funds from £901,462 to £922,212. This has resulted in a small reduction in the earning rate from 10.71 per cent to 1965 to 10.49 par cent
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Bibliographic details
Press, Volume CVI, Issue 31091, 21 June 1966, Page 19
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136DONAGHY’S ROPE Press, Volume CVI, Issue 31091, 21 June 1966, Page 19
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