Good Profit Lift By Rex Consol.
(New Zealand Press Association)
AUCKLAND, May 3.
The consolidated net profit of Rex Consolidated, Ltd., Auckland hardware and garment manufacturer, increased by £9452 or 14.4 per cent—to £75,001 in the year to March 31, the chairman (Mr L. N. Ross) reports in a preliminary statement today.
The accounts, which are subject to audit, show the provision for depreciation has increased by £7907 to £35,315. The provision for taxation is increased by £B9OO to £71,165. A final dividend of 6 per cent makes a total dividend of 11 per cent for the full year. The company has paid 11 per cent since 1965 when the rate was raised from 10 per cent The dividend requirement.
however, has been increased by £3827 to £25,260, because of an increase in capital. During the year capital was increased by £48,240 in a one-for-five cash issue at a premium of ss, and by a further £15,550 through the issue of 31,100 shares as consideration in the purchase of the Auckland Plastic Company and of property adjoining the company’s premises in Otahuhu.
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Bibliographic details
Press, Volume CVI, Issue 31360, 4 May 1967, Page 17
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182Good Profit Lift By Rex Consol. Press, Volume CVI, Issue 31360, 4 May 1967, Page 17
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