COMMERCIAL S. A. Smith-Biolab Trading Consistent

Press, Volume CVI, Issue 31345, 15 April 1967, Page 18

COMMERCIAL S. A. Smith-Biolab Trading Consistent

(New Zealand Press Association?

AUCKLAND, April 14.

Trading by S. A. Smith-Biolab, Ltd., Auckland pharmaceutical supplier, since the end of January has been consistent with that, in the same period of last year, the chairman (Mr P. Wynn-Williams) says in the annual report.

Further progress was confidently expected. The turn-over in the year to January 31 was £561,388—an increase of almost 14 per cent on the previous year.

By the take-over of Biologial Laboratories since the >alance-date the company now las a modern office, ware-

house and laboratory building at Northcote.

There is ample land for further building and work would begin soon on an extra 10,000 sq. ft of office and warehouse space. The building in the city, which is getting too small, would be sold. Net Profit As announced, the net profit for the year increased £3256, or 18.1 per cent, to £21,290. This was after depreciation of £5524 (up £147) and tax of £21,000 (up £3797).

The steady 11 2-3 per cent payout (incorporating last year’s 1 2-3 per cent anniversary bonus) took £8750.

Earning Rates

The earning rate on average shareholders’ funds improved from 15.9 to 17.1 per cent, while that on capital from 24 to 28.4 per cent. Shareholders’ funds were £12,540 higher at £130,630, including capital of £75,000. This has been raised since the balance date to £112,500 in the take-over of Biolab.