Ballins closing books this month

Press, Volume CXII, Issue 32861, 9 March 1972, Page 20

Ballins closing books this month

Ballins Industries, Ltd, will change its balance date from September 30 to March 31, the directors announced yesterday. The change will take effect this month, and Ballins Industries will produce full accounts for the six month period. The directors’ dividend recommendation for the six months will be directed towards equalising the dividend return to shareholders, their statement said. Last year’s interim dividend was 5 per cent, followed by a final dividend of 7J per cent. If the interim again were 2.5 c a share, shareholders would lose .625 c a share by the change of date. The directors’ statement shows dearly that they are aware of this; although, of course, they cannot recommend a payment until the profit is known, shareholders are obviously not going to lose by the move. The change is being made to ease the burden of accounting and clerical work towards the end of the calendar year, which coincides with the company’s busiest trading period and has been greatly accentuated with the recent rapid expansion of the company’s activities.

There are other associated benefits for the company which will arise from the change, and this will also result in the balance date conforming with common accounting practice, the directors said.