Healing Int. Loss $579,635

Press, Volume CVIII, Issue 31676, 11 May 1968, Page 16

Healing Int. Loss $579,635

(N.Z. Press Assn.—Copyright)

SYDNEY, May 10

A. G. Healing, Ltd, incurred an audited net loss of $579,635 after tax provision of $1344 and depreciation of $156,763 for the six months to Decern ber 31. Included in the loss was 36,020 representing loss on ;ale of assets because of closure of unprofitable sections. The result was an improvement of 22 per cent compared with the corresponding period of the previous year when the loss was $741,698 after tax of $4909 and depreciation of $180,731. The loss for the six months to June 30, 1967, immediately preceding the period under review, was $1,164,748. Interim, ordinary and preference dividends will be omitted.

CB.A. Offer Is Unconditional (N.Z. Press Association) WELLINGTON, May 10. The Commercial Bank of Australia, Ltd’s, offer to purchase ordinary shares in General Credits Holdings, Ltd, has been declared unconditional, the directors announced. Acceptances have been received by the bank to date from 3747 shareholders for 4,608,314 shares representing 57 per cent of the 8,055,121 ordinary shares under offer. Through these acceptances, together with 5,700,500 ordinary shares already held, the bank will control 75 per cent of the 13,755,621 issued ordinary shares in General Credits.