Bonds finished well

Press, Volume CXIV, Issue 33521, 30 April 1974, Page 16

Bonds finished well

6.V.Z. Press Association) WELLINGTON. Costs increased, and lare still rising, but production and sales of Bonds (N.Z.), Ltd, rose (substantially in the latter part of the company’s year so that there was an improvement in profit that did not seem likely six months earlier, the chairman of directory I (Mr A. S. Paterson) ■says in the annual report. The report confirms the preliminary announcement ithat the group net profit for the year to January 19. rose 16.1 per cent to $510,559.

Externa! sales were about 20 per cent higher than in the previous year and sales within the group much higher, enabling a more effective use of the company’s facilities, Mr Paterson says.. All divisions traded profitably. There was a severe drop in pantyhose prices, but this was offset by increasing sales in other divisions.

The profit was struck after providing $74,313 more, at $389,513 for tax,

land $7OlO more at $353,317 for depreciation. ' The 16 per cent (161 per I cent) dividend required I $250,016 ($273,446), being' paid on capital increased by I the one-for-five bonus issue.’

P a i d-up capital is $1,562,610 ($1,301,628) and total shareholders’ funds $3,738,796 ($3,415,909). The earning rate on shareholders’ funds was 13.7 per cent (12.9 per cent).