Peak Result For A. and T. Burt

Press, Volume CVI, Issue 31128, 3 August 1966, Page 21

Peak Result For A. and T. Burt

Peak for A. and T. Burt, Dunedin-based plumbing, heating and ventilation engineer, is shown in the full accounts for the year to April 30, released yesterday.

Consolidated net profit—reported in a preliminary statement as £255,000 —is £255,170. This is a rise of 7.4 per ■cent on last year’s £237,618 and is after £50,379 depreciation and £262,818 for tax. Last year depreciation was £49,427 and tax was £225,214. Proposed final ordinary dividend of 7| per cent makes 10| per cent for the year, against 10 per cent last year. Dividend requirement, tak : ing in 6 per cent preference for the year, is £lOB,OOO. Transfer of £150,000 to general reserve compares with £125,000 transferred last year. Carry-forward is £306,949, against £309,569 brought in from last year. Latest profit represents 10.7 per cent on shareholders’ funds of £2,394,956, compared with 10.6 per cent last year. Capital is steady at £1,050,000, takin in£lmin2os ordinary shares and £50,000 in 6 per cent cumulative preference 20s shares. Earning rate on ordinary capital is 25.5 per cent, against 23.8 per cent last year. Directors recommend subdividing the 20s ordinary U.E.B. Men Join (N.Z. Press Association) WELLINGTON, Aug. 2. Three United Empire Box Company executives, Mr J. N. C. Doig, chairman and managing director, Mr L. H. Hale, assistant to the managing director, and Mr P. B. Sinclair, chief accountant, have been appointed to the board of Ross and Glendinning.

shares into 5s units to become 50 cent units on the change to decimal currency next year. During the year the company sold its Auckland Customs street building and is moving to new premises in Victoria street, the chairman (Mr L. R. Burt) says in his report.

Since the end of the year the company has bought George McCaul, Ltd., Auckland plumbers’ merchant and sheet metal worker, giving it two more outlets in Auckland.

Sales during the year rose by almost 21 per cent and sales for the first two months of the current year are slightly ahead, Mr Burt says.