Forest venture within Budget
(AZ. Press Association < AUCKLAND. Forest Investments, Ltd. has so far achieved its establishment plan, within its budget the auditors (J. G. Groome and Associates) say in the annual report. The company, which floated to the public in 1973, earned a profit of $37,597 in the year to January 31 after tax of $5153 and depreciation of $1938. Forest establishment costs of $144,950 were capitalised. The public subscribed for 650,000 shares, leaving Fletcher Trust and Investment Company, Ltd. with the obligation to take up 1,600,000 shares in addition to the 750.000 it had already subscribed for. The. growth at Paengaroa was up to expectations and that at Ngatapa was very good and above expectations. Preparation for the 1975 planting at Ngatapa had been completed. A further 1200 acres would be prepared there for planting in 1976. The balance sheet showed paid capital of $700,000 and shareholders’ funds of $728,387. Fixed assets were $436,815, net current assets $313,004, and intangibles $36,774.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19750614.2.170
Bibliographic details
Press, Volume CXV, Issue 33869, 14 June 1975, Page 19
Word Count
163Forest venture within Budget Press, Volume CXV, Issue 33869, 14 June 1975, Page 19
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.