Marac Profit Up
(iV.Z. Press Association > AUCKLAND, June 1. Manufacturers and Retailers’ Acceptance Company, Ltd.. Auckland financier, increased its profit by £1077, or 4.9 per cent, to £22,952 in the year to March 31. As announced, the company will pay a maiden dividend of 34 per cent, requiring £16,275. The profit improvement was in spite of a 59 per cent jump in depreciation, of
£29,016 to £77,998. Tax took £1742 more at £23,436. The earning rate on aver age funds declines from 5.2 per cent to 4.7 per cent, while that on capital falls from 5.4 per cent to 4.9 per cent. The total accounts receivable show an increase of £388,255 to £1.599,795. As to the future, Mr Fletcher says that until the Capital Issue Control Regulations are eased or revoked .they will continue to restrict the ability of the company to I increase profit substantially.
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Bibliographic details
Press, Volume CVII, Issue 31385, 2 June 1967, Page 13
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146Marac Profit Up Press, Volume CVII, Issue 31385, 2 June 1967, Page 13
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