JACQUARD TEXTILES
Early Report Confirmed (N.Z. Press Association) WELLINGTON, Nov. 1. During the coming year, the directors of Jacquard Textiles confidently expect to maintain dividend at 15 per eent., after the increase from 12} per cent for the year to July 31. Announcing this today the chairman (Mr H. Korman) said that though economic conditions are still buoyant, higher costs of production may influence the growth and future results. Nevertheless providing business conditions continue, the results for the 1966-7 period are expected to be satisfactory. Mr Gorman said that during the year an additional 10,000 square feet of floor space had been added for additional plant and machinery. As already announced group net profit for the year was £36,316 compared with £35,550 in the previous year. The result was reached after providing £30,541 (£31,267) for taxation and £8555 (£5797) depreciation. Dividend, increased from 12} to 15 per cent requires £11,250 (£9375) and is covered 3.2 times (3.8 last year). With unappropriated profit brought forward from the previous year £91,953 (£66,561) is available for appropriation this year.
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Press, Volume CVI, Issue 31206, 2 November 1966, Page 21
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176JACQUARD TEXTILES Press, Volume CVI, Issue 31206, 2 November 1966, Page 21
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