N.Z. CEMENT PROFIT
; Strong Rise To $556,815 : After a sharp decline in j the last two years, the conjsolidated net profit of New Zealand Cement Holdings, Ltd. has recovered by more than 175 per cent, approximately to the levels achieved in 1965 and 1966. For the year to July 31, the annua! accounts show a consolidated tax-paid profit of $556,815, compared with $201,856 previously. In 1966 the company made a record profit of $577,496. As announced earlier, the final dividend this year is 6.25 c a share, making an unchanged total dividend of 10c. The total dividend requirement is $331,170. The profit was reached after providing $1,002,506 for depreciation (last year $994,773) and tax of $211,000 ($169,329). The total of shareholders’ funds is up from $5,897,017 to $616,692. Loan capital has increased by $lOO,OOO to $3,309,202 after an increase in deposits with the company. Since balance date the notes of sl.2m have been converted to share capital on the basis of eight $1 shares for every five $2 convertible notes.
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Bibliographic details
Press, Volume CIX, Issue 32127, 24 October 1969, Page 14
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170N.Z. CEMENT PROFIT Press, Volume CIX, Issue 32127, 24 October 1969, Page 14
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