Neil explains cash issue
(N.Z. Press Association) AUCKLAND. The planned slm premium issue by Neil Holdings, Ltd, is to help the company maintain a “reasonable” proprietary ratio, the directors say in the annual report — a report which shows that the ratio fell to 34.5 per cent in the year to March 31. The ratio was unchanged from the previous year despite the fact that in the intervening period shareholders’ funds rose from $7.3m to $10.3m. The main increase in assets was in stocks of land, held for development. The book-value of land rose s6.lm to $11.7m. “Adequate holdings of land for subdivision and development have been, and remain, a key factor in the group strength and profitability,” the directors say.
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Bibliographic details
Press, Volume CXV, Issue 33928, 22 August 1975, Page 12
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120Neil explains cash issue Press, Volume CXV, Issue 33928, 22 August 1975, Page 12
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