S. OATES EARNINGS
(N.Z. Press Assn.—Copyright) AUCKLAND, April 17. The group profit of Swinton and Oates, Ltd, the Auckland manufacturer of shoes, declined $BO6, or 2.3 per cent, to $34,842 in the year to January 31. The steady 10 per cent dividend will take $20,126. This is covered 1.7 times by profit Provisions Lower The latest profit is after providing $931 less for de-
preciation at §16,585 and $1346 less for tax at $32,600. The earning rate on average funds eases from 9.0 to 8.5 per cent while that on capital is down from 17.7 to 17.3 per cent. Shareholders’ funds increased $14,722 to $418,734, with unchanged capital of $201,260. It was a difficult year for the footwear industry, the chairman (Mr D. A. Schnauer I says. Factory production rase 5.8 per cent.
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Bibliographic details
Press, Volume CVIII, Issue 31657, 18 April 1968, Page 12
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133S. OATES EARNINGS Press, Volume CVIII, Issue 31657, 18 April 1968, Page 12
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