Hawkins Holdings Seeks More Work

Press, Volume CVIII, Issue 31730, 13 July 1968, Page 18

Hawkins Holdings Seeks More Work

The building industry in the Waikato and Bay of Plenty area has been more restricted and damaged than in any other areas of New Zealand, says Mr K. L. Sandford, the chairman of Hawkins Holdings, Ltd, the Hamilton contractor, in his annual report.

It is a matter of urgency that the district should immediately receive a considerably greater inflow of construction capital and accelerated works planning by Government to redress this unfavourable balance, he says. As announced, the group profit for the year to March

31 fell 1.3 per cent or $1235, to $96,199. The steady 10 per cent ordinary dividend again requires $33,100 and is covered 2.7 times after providing $6500 for the preference charge. Earning Rates The earning rate on average ordinary shareholders’ funds is down from 15.0 to 12.2 per cent while the rate on ordinary capital is down from 27.6 to 27.1 per cent Shareholders’ funds are up $63,080 to $870,562 with ordinary capital unchanged at $331,000 and preference steady at $lO,OOO. The latest profit is after providing $17,743 more for depreciation at $53,681 and $1796 less for tax at $97,826.