Mamaku Forests Profit £14,814

Press, Volume CVI, Issue 31239, 10 December 1966, Page 20

Mamaku Forests Profit £14,814

(N.Z. Press Assn. —Copyright) AUCKLAND, December 9. Group profit of Mamaku Forests Ltd., Auckland, improved 32.9 per cent, or £3665, to £14,814 in the year to June 30. However, this is before taking into consideration earnings attributable to minority shareholders of £24,965, compared with £463 previously. It is after providing £4749 more tax at £7450 but excludes capital profits resulting from the sale of shares at £26,647 and properties at £1452. Last year the company derived a profit of £19,529 from the sale of properties. Sale of land in the latest 12 months brought in £4353 against £7666 previously. Steady Dividend The company will pay a steady dividend of 5 per cent requiring £5349 compared with £9441 last year when it was paid out of capital reserves. Shareholders’ funds are £19,620 higher at £167,279 with unchanged capital of £106,973. The main feature of the balance sheet is the reduction in investments by £73,122 to £294,271. The company has disposed of all but £ll4B of the £147,216 previously invested in public company shares and listed in the accounts at cost. It has made an advance of £105,458 to the holding company, R. A. Brierley Investments, Ltd., Wellington. The company’s subsidiary. Redwood Forests, Ltd., earned a net profit of £7576 for the 15-month period to June 30

compared with £4891 in 1965. This does not include £26,647 realised from the sale of shares held in N.Z. Forest Products, Ltd.

INDICES

•Peak. Mr T. S. George, manager of the Bank of New South Wales, Courtenay place, has been appointed manager of the bank’s Christchurch branch. He succeeds Mr J. R. Lamb who has been appointed manager of the Wellington office.

New York. — Dow Jones: 1965 Rails Indust. Sold Dec. 31 257.43 960.26 7.240.000 1966 Feb. 9 264.82 995.15* 7,240,000 Dec. 6 203.32 797.43 7,670.000 Dec. 7 205.41 808.01 8,980.000 Dec. 8 206.28 812.80 8,370,000 London —Financial Times (industrial ordinary. 1955. equals 100 Government, 1926, equals 100: gold 1955. equals 100): 1964 Indust. Govt. Gold Oct. 1 .. 377.8* 82.15 56.4 1965 Dec. 31 .. 339.7 78.74 60.5 1966 Dec. 6 .. 301.3 76.46 50.3 Dec. 7 .. 303.7 76.53 51.4 Dec. 8 .. 302.6 76.67 51.1 Sydney —Sydney Stock Exchange < July. 1931 , June , 1939, equals 100): 1964 Retail. Ord. Indust. Feb. 27 477.60 392.21* 395.45 1965 Dec. 30 . 360.16 320.76 353.45 1966 Dec. 7 . 323.98 276.99 359.02 Dec. 8 . 320.01 277.18 360.26 Dec. 8 . 319.72 276.80 310.19