F. TILES AND PARQUET
Increase In Profit (N.Z. Press Association! AUCKLAND, Aug. 19. Floor Tiles and Parquet (N.Z.), Auckland, increased its profit by £3216 or 31.2 per cent, to £13,168 in the year to March 31. As announced, dividend has been maintained at 9 per cent. Profit, after £323 more for denreciation at £3896 and £2036 more for tax at £8240, includes £2025 in depreciation recovered on the sale of property. A capital profit of £6336 was also made, says the managing director, Mr W. R. Campbell. Earning rate on average funds was up from 10.6 per cent to 13.2 per cent and on capital improved from 13.4 per cent to 17.5 per cent. Because of the difference in balance date, and that it is not trading, Vinylpave Products Pty. accounts have not been consolidated, says the chairman, Mr F. M. Naim A provision of £5OOO has been made in the parent comnany’s accounts .against oossible losses, but because of the position of Vinylnave Products (N.S.W.) Pty., these are unlikely to eventuate.
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Bibliographic details
Press, Volume CVI, Issue 31143, 20 August 1966, Page 18
Word Count
172F. TILES AND PARQUET Press, Volume CVI, Issue 31143, 20 August 1966, Page 18
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