W’WTHS N.Z. PROPERTIES
Net Profit Ol $89,845
(N.Z. Press Association) AUCKLAND. Nov. 29. Woolworths N.Z. Properties, Ltd, produced a net profit of $89,845 for the year to September 27, compared with $89,754 for the previous year. It was after providing $87,685 ($87,592) for tax and $48,070 ($49,370) depreciation. The 5| per cent preference dividend will require $89,692. No ordinary dividend will be paid, as was the case last year. Shareholders’ funds were $3,523,522 ($3,146,973) including $1,559,860 preference shares (unchanged), $500,000 ordinary shares (unchanged) and $1,463,662 ($1,087,113) reserves. Reserve for development was increased during the year by $376,396, which represents surplus from the sale of properties less ingoings in respect of properties purchases, to $1,439,067. The directors say the programme of expansion was delayed by the building restrictions which have now been eased.
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Bibliographic details
Press, Volume CVII, Issue 31540, 30 November 1967, Page 18
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132W’WTHS N.Z. PROPERTIES Press, Volume CVII, Issue 31540, 30 November 1967, Page 18
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