A. Barnett Turnover Rises 7.6 p.c.
Arthur Barnett, Ltd, the Dunedin retailer, increased its turnover by 7.6 per cent in the latest year to June 30.
As announced, the profit rose $1096, or slightly less than 1 per cent, to $125,898
but the increase was insufficient to maintain the earning rate on average shareholders’ funds. The rate slipped from 10.6
to 9.6 per cent while the rate on capital rose from 25.1 to 25.3 per cent. The latest profit is after providing $21,838 more for depreciation at $63,040 and $3813 less for tax at $115,515. Dividend Cover The dividend, raised from 81 to 9 per cent, requires $2490 more at $42,330 and is covered 2.6 times. Shareholders will be asked at the annual meeting to approve lifting the authorised capita! $200,000 to $BOO,OOO but directors have no plans for issuing new capital. Shareholders’ funds are $79,629 higher at $1,349,809 with ordinary capital steady at $498,000.
Kanieri Gold (From Our Own Reporter) GREYMOUTH. Sept. 3. The Kanieri gold dredge won 9640 z of bullion during i August, from 342,000 yards of I spoil worked in 530 hours.
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Press, Volume CVIII, Issue 31775, 4 September 1968, Page 18
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186A. Barnett Turnover Rises 7.6 p.c. Press, Volume CVIII, Issue 31775, 4 September 1968, Page 18
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