PROFIT LIFT BYE. REECE
10.4 p.c. Rise To £5124
E. Reece Ltd, Christchurch builders’ supply and hardware merchant, improved profit by 10.4 per cent—or £4Bl—to £5124 in the year to May 31. This is after tax £479 higher at £4203 and depreciation up £23 at £Bl9l. Dividend is steady at 41d a share—7) per cent —on ordinary capital, unchanged at £49,846. It takes £3701. Carry-forward is £9728 against £9117 brought in.
Shareholders’ funds are £612 higher at £63,083 and the earning rate on these improves to 8.1 per cent, from 7.5 per cent Current assets are £87,914 against £83,437 last year. Current liabilities are £3144 higher at £73,840. The current ratio improved to 1.2. Bank overdraft has decreased from £53,215 to £42,508.
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Bibliographic details
Press, Volume CVI, Issue 31209, 5 November 1966, Page 20
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122PROFIT LIFT BYE. REECE Press, Volume CVI, Issue 31209, 5 November 1966, Page 20
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