Gear profit much higher
rN.Z. Press Association)
WELLINGTON, Dec. 21. The unaudited group net profit of the Gear Meat Company, Ltd, for the year to October 1 rose $78,709 or 39.6 per cent to $277,334, the directors say in a preliminary report. The provision for depreciation has been increased 56.2 per cent, from $336,614 last year to $525,649, a consequence of additions and alterations carried out to comply with the Ministry of Agriculture hygiene requirements. About two years and a half ago, the company, Dalgety New Zealand, Ltd, and the Bank of New Zealand, drew up a scheme for the development of its Lambton Quay properties. Recently the Dairy' Board accepted an invitation to join the scheme and an announcement on this project will be made within the next day or two, the directors say. A final ordinary dividend of 5c a share (50 per cent) making an unchanged total for the year of 9 per cent, is payable on February’ 23, ex dividend February’ 7.
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Bibliographic details
Press, Volume CXII, Issue 33106, 22 December 1972, Page 15
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166Gear profit much higher Press, Volume CXII, Issue 33106, 22 December 1972, Page 15
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