COMMERCIAL Interim Loss By Wilkins, Davies
Wilkins and Davies Construction Company, Ltd, Wellington, incurred a loss of $168,473 in the six months to September 30, directors say in an interim report.
They say that the sharp reversal from the profitable result of the previous year is directly related to the inadequate turnover during the period.
ation as to an ordinary dividend. In their annual report released last. June, directors warned that turnover in the second half of the year had dropped seriously so that the profit for the full year showed only a modest rise on that for the first six months.
The year before the profit fell $238,767 to $140,039 after the interim profit rose to $104,523. The ordinary dividend was maintained at 6 per eent and was covered 1.8 times by profit after the preference charge. Although the work on hand
has substantially increased during the latter part of the period, the order book is still not yet at a satisfactory level, directors say in the interim report. ‘ They have declared a preference dividend of 2 7-8 per cent but make no reconnnend-
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Press, Volume CVIII, Issue 31865, 18 December 1968, Page 24
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185COMMERCIAL Interim Loss By Wilkins, Davies Press, Volume CVIII, Issue 31865, 18 December 1968, Page 24
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