MASON STR. PROFIT UP
Improvement Continues Confirming tax-paid profit 8.5 per cent higher at £18,373, directors of Mason, Struthers yesterday reported that turnover had increased and expenses had been held to a satisfactory level. Dividend of the company, Christchurch-based hardware and builders’ merchant, is steady at 6 per cent, taking £13,200. Earning rate on shareholders’ funds, up from £384,824 to £389,997, was 4.7 per cent against 4.4 per cent. Unchanged Ordinary capital, an unchanged £220,000 in 5s shares, earned 8.4 per cent against 7.7 per cent. Latest profit, after depreciation up £2164 to £5650 and £507 more for tax at £16,299, covers dividend almost 1.4 times. General reserve is steady at £122,000. Last year this reserve was lifted by a transfer of £2748. During the year most of the shares held in other companies and deposit money were realised to finance new development at Papanui, the chairman (Mr V. C. Mathews) says.
All departments traded profitably, although the new Papanui branch contributed for only eight months, he says.
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Press, Volume CVI, Issue 31187, 11 October 1966, Page 21
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168MASON STR. PROFIT UP Press, Volume CVI, Issue 31187, 11 October 1966, Page 21
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