GOOD PROFIT RISE BY W. NEILL

Press, Volume CIX, Issue 32028, 1 July 1969, Page 19

GOOD PROFIT RISE BY W. NEILL

The group net profit—subject to audit and after deduction of minority interests—of Wilson Neill, Ltd, Dunedin, rose $16,349 (12.5 per cent) to $147,331 in the year to March 31, the directors said in a preliminary statement.

The result is after providing $Bll9 more for depreciation at $46,219, and $8706 more for taxation at $15,868. The provision for taxation in both years is reduced by the export incentive deductions. The directors recommend that a dividend of 10 per cent absorbing the sum of $66,672 be paid from revenue profits, leaving a balance of $80,659 to be retained in the business. Profit before taxation, but after deduction of minority interest, is $163,199 as compared with $138,144 last year. The dividend recommended is payable on an increased share capital of $703,450 as compared to $622,000 for the previous year. The increase

of $81,450 arose from the issue of 81,450 shares to the shareholders of MacKerras and Hazlett, Ltd, and S. W. Dwan, Ltd, after the purchase of the companies during the year.

James Hardie Profit Up James Hardie Asbestos, Ltd, Sydney, lifted group net profit by $577,616, or 19.8 per cent, to $3,494,959 for the year to March 31. This is the best result since the record $3,603,902 earned in 1965-66. The earning rate rises from 27.8 to 33.3 per cent on paid capital of $10.5m.

His area of responsibility is Asia and the Pacific. In S.M.E.-I. there are three vice-presidents international —one for Europe, one for Latin America and one for Asia-Pacific.