COMMERCIAL David Jones profit up
(N.Z.P.A. -Reuter—Copyright) SYDNEY, March 26. The net profit of David Jones, Ltd, for the seven months to February 28, increased $160,000 or 3.6 per cent to $3.97m. Turnover was 8.2 per cent higher than the preceding corresponding period.
The real estate holdings of the company had been appraised by independent real estate experts, and as a result consideration had been given to redeveloping some of the properties and to long term plans for expanding retail activities.
As a result of the appraisal, some of the properties have been revalued to creat an asset revaluation reserve of $18,260,537.
A new company, D. J.’s Properties, Ltd, had been formed to develop and invest in real estate and it is expected that shares in it will be offered to David Jones’ shareholders during the latter part of 1971. An interim dividend of 7.5 per cent (7.25 per cent) is payable on May 5.
Forged share certificates (N .Z .P.A.-Reuter—Copyright) MELBOURNE, Mar. 26. Australian stock exchanges were asked yesterday to investigate the circulation of forged share certificates. The certificates were believed to be for the shares of a leading Australian mining company, the secretary of the Melbourne Stock Exchange (Mr R. D. Knowles) said. He did not specify the name of the company involved, but he said that it was not a “speculative” company.
Tubemakers report Tubemakers of Australia, Ltd, expects that the profit for the year might well be lower than for 1969-70. Last year the company increased group net profit 8.5 per cent to $9,050,000. The interim report reveals that sales were 3.8 per cent higher and pretax profit 5.6 per cent higher in the six months to December 31, compared with the previous corresponding period. Sales and profits, however, had been “less satisfactory” during January and February.
Unit Trusts
Buy Sell First N.Z. Unit . 76 87 N.Z. Incom. . 57 63 N.Z. Accom. . 107 121 Investors 62 ■ 67 Sec. First . 122 127
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Bibliographic details
Press, Volume CXI, Issue 32566, 27 March 1971, Page 24
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325COMMERCIAL David Jones profit up Press, Volume CXI, Issue 32566, 27 March 1971, Page 24
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