D.F.I. RENT REVIEW
Total Revenue Should Rise
Because Some rents are due for review, total rents to Dominion Farmers’ Institute Ltd., Wellington, should show an increase in the current year, says the chairman (Mr W. G. Bear). As announced, profit fell by £2938, or 19.3 per cent, to £12,315 in the year to April 30 and this was insufficient to cover the steady 6 per cent dividend requirement of £15,903. The earning rate on average shareholders’ funds is down from 3.7 to 3.1 per cent while the rate on capital is down from 5.7 to 4.6 per cent Provisions The latest profit is after providing £548 less for depredation at £2042 and £3914 less for tax at £10,860. The company was formed in 1915 to provide a central headquarters for the farming organisations of New Zealand but now is a commercial block let mainly to the Reserve Bank and to the head office of the Department of Agriculture.
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Bibliographic details
Press, Volume CVII, Issue 31416, 8 July 1967, Page 18
Word Count
158D.F.I. RENT REVIEW Press, Volume CVII, Issue 31416, 8 July 1967, Page 18
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