Rickstan plans re-equipment
(N.Z. Press Association) AUCKLAND, Nov. 13. I The time had come for investment in plant on a sub[stantial scale the • chairman lof Rickstan Holdings, Ltd, I furniture manufacturer, (Mr ! J. S. Alexander), says in the i annual report. I The company will allocate [sloo,ooo for updating its ! machines in the 1973-74 [period, and a further; ($lOO,OOO will be spent in the [next two years. The company had achieved [a 32.4 per cent ($17,393) in-, | crease in profit to $70,941 in the year to March 31, after ■ years of problems. [ The result was after tax of $17,700 (previously nil)| and depreciation, $5322 high-' [er at $22,822. [ The 8 per cent dividend, The first since 1963, took; | $28,952. The earning rate on capital was 19.6 per cent, compared with 14.8 per cent last ! year, and that on share- ■ holders’ funds rose from; 14.9 per cent to 17.4 per i cent. Shareholders’ funds were ,$41,988 higher at $427,171. (including steady capital of |5361,900. I
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Press, Volume CXIII, Issue 33382, 14 November 1973, Page 20
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164Rickstan plans re-equipment Press, Volume CXIII, Issue 33382, 14 November 1973, Page 20
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