Berlei 1:8 Bonus; Profit Up To 36p.c.
Berlei Industries, Ltd, the Auckland foundation garment, knitwear and lingerie manufacturer, is to make a one-for-eight bonus issue to shareholders, ex bonus on March 18.
The group profit for the year to December 31 rose $39,056, or 36.2 per cent, to $147,002.
In his preliminary report the chairman (Mr R. King) says that the company will capitalise $102,500 from the premium on shares reserve for the bonus issue. A final dividend of 5 per cent has been recommended which maintains the full rate of 10 per cent Based on Jie provisional result the earning rate on capital moves up from' 13.2 to 17.9 per cent All Profitable Mr King says that all subsidiaries traded profitably in
the latest year but the major gain was achieved in the foundation garment section. The latest profit is after providing $13,590 more at $67,000 for depreciation and $46,210 more for tax at $151,250. The final dividend is payable on March 29, ex March 18. The last bonus issue by Berlei was a two-for-five in 1961. : The latest issue will raise ordinary capital to $922,500. The profit rise in the latest year comes after a fall of 15.3 per cent in 1966.
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Press, Volume CVIII, Issue 31615, 28 February 1968, Page 10
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204Berlei 1:8 Bonus; Profit Up To 36p.c. Press, Volume CVIII, Issue 31615, 28 February 1968, Page 10
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