WINSTONE PRELIM.

Press, Volume CIX, Issue 32017, 18 June 1969, Page 23

WINSTONE PRELIM.

Slight Rise In Net Profit

(N.Z. Press Associations

AUCKLAND, June 17.

Winstone, Ltd, Aucklandbased building supplies group, ha? raised its dividend from 8.5 to 10 per cent for the nine months to March 31, directors announced in a preliminary statement today. The profit for the latest period is $1,596,184—an increase of $32,795, or 2.1 per cent over the result of the previous full year. The result is subject to audit and is after tax and deduction of minority interests. Besides the profit from trading, there was a profit of $289,609 on the sale of fixed assets. This has been credited to the reserves. EARNING RATE This result covered nine months trading by the parent company and 12 months by subsidiaries. The latest profit represents an earning rate of 15.9 per cent on capital, against 15.6 per cent last year. The actual earning rate would be much higher if the parent company profit for 12 months was included. PARENT COMPANY In the full year to June 30, the parent company profit was $747,795 compare-1 with a consolidated profit of $1,563,389. The final dividend of 7.5 per cent is payable on August 29, shares becoming exdividend on August 19. Kanieri Gold (From Our Own Reporter) GREYMOUTH, June 17. The gold dredge Kanieri won 4580 z of bullion in the two weeks to June 15, from 180,000 yards of spoil worked in 219 hours.