Page 26 Advertisements Column 1

Press, Volume CVI, Issue 31195, 20 October 1966, Page 26

3mm

/;m4zy..i.vns~ IHVESTMEHT CROUP LIMITED Foi a regular assured income invest wisely select Registered First Debenture Stock in a well established company where your investment is secured by a properly drawn up Trust Deed. | The Broadlands Investment Group Ltd., I P.O. Box 985, Christchurch | Please forward without obligation, copy of Prospectus. | | NAME j ■ ADDRESS | SU Consult your local Sharebroker or mail this coupon for copy of Prospectus. Or for further details ring any of our local offices: Tel. 23-976 Auckland, Tel. 87-571 Papatoetoe. Teh 83-665 Hamilton. Tel. 85-681 Tauranga. Tel. 49-494 Wellington, Tel 66-162 Christchurch This advertisement does not purport to be a Prospectus. 4.6 NATIONAL MORTGAGE & AGENCY COMPANY OF NEW ZEALAND LIMITED PRELIMINARY ANNOUNCEMENT The Directors of the National Mortgage & Agency Company of New Zealand Limited announce the results for the year ended 30th June, 1966. Subject to Audit, the Group consolidated profit is £1,561,000 which compares with £1,469,000 in the previous year. Taxation for the year amounts to £876,000 compared with £770,000 in 1965. After adjustments for minority shareholdings, and bringing in unrequired tax provisions, the amount available for distribution is £728,000 compared with £725,000 last year. An Interim Dividend of 5}% net free of income tax, was paid on the Ist April last, and the Directors now recommend a Anal Dividend of 7% gross, less income tax. Although the total appropriation for Dividends this year absorbs £351,000, this is partially offset by transitional tax reliefs in the U.K. In 1965 when a total Dividend of 11% net, free of U.K. income tax was paid, the total appropriation amounted to £309,000. 1966 1965 subject to audit Group Profit before Taxation £1,561,000 £1,469,000 Taxation on profits for the year 876,000 770,000 £ 685.000 £ 699,000 Less minority shareholdings 6,000 5,000 - £ 679.000 £ 694,000 Add tax provisions not required 49,000 31,000 £ 728,000 £ 725,000 Appropriations Interim Dividend 5j% nett £ 154,000 (4% nett) £ 112,000 Final Dividend 7% gross 197,000 (7% nett) 197,000 £ 351,000 £ 309,000 Less Nett U.K. tax reliefs available to the Company under the Finance Act 1965 29,500 £ 321,500 £ 309,000 Retained Profits 406,500 416,000 £ 728,000 £ 725,000 Earnings have again increased during the year, but have been more than offset by a higher liability for Taxation in New Zealand. In the current year pastoral conditions have been good, and a further increase in primary production is anticipated. However, the present level of prices for wool and lamb are below those ruling a year ago. In New Zealand, new U.K. tax regulations could have the effect of increasing shareholders’ net dividend income by virtue of Double Tax arrangements. Annual General Meeting: 13th December, 1966. FREE UTTER BAG TO KEEP OUR HIGHWAYS AND PICNIC SPOTS CLEAN Free Caltex Litter Bags while stocks last! ONLY FROM YOUR FRIENDLY CALTEX DEALER Mr thOM wte KNOW **W