COMMERCIAL A. M. Bisley profit up; liquidity better

Press, Volume CXII, Issue 33046, 13 October 1972, Page 19

COMMERCIAL A. M. Bisley profit up; liquidity better

(Sew Zealand Press Association) AUCKLAND, October 12. Reduction of stock, improved profitability, better collections from debtors, and the proceeds from the sales of surplus properties have greatly improved the liquidity’ of the Bisley group of companies, the chairman of A. M. Bisley and Company, Ltd (Mr D. S. Bisley), says in a preliminary profit report.

The unaudited accounts! show a rise of 529.582, or 35 per cent, to $113,010 in the; tax-paid profit for the year to June 30. The company proposes to pay an unchanged dividend of 7 per cent, which will be free of tax in shareholders hands. The directors say that additional realised capital reserves are likely to become available over the next year or two. Turnover increased $134,264, or 3.3 per cent, to I $4,161,175, total expenses 1 were reduced from $1,239,908' to $1,190,969. and stock was cut back from $2,076,843 to i $1,892,414. “There will be a ready de-; mand for money to finance! sales of machinery so that’ funds available from our subsidiary, Engineering Finances,! Ltd, will be fully used,” says! Mr Bisley. Export promotion should I result in a substantial increase in exports during the

I year, which will benefit the l associated manufacturing i , company, Bisley Industries Ltd. Turnover should substantially increase and operating expenses should be further 1 reduced. The group has two major i industrial contracts for flood 1

pumps and licence dehydrating and pelleting equipment with a combined value of almost slm which will be delivered over the next few months. The 7 per cent dividend is payable on December 6. Shares are ex-dividend on November 21.