Footwear co. marches on
M. O'Brien and Company, Ltd, Christchurch footwear manufacturer, has continued the progress of recent years with a substantially higher profit and increased dividend. The directors announce in a preliminary statement that net profit for the year to June 30 rose 89 per cent to 8120,763 — an increase of $57,061 on the previous year. The dividend has been increased from 8 to 10 per cent. During the year ordinary capital was increased 9.8 per cent to $328,749 with the conversion of preference shares to ordinary shares. Earning rate on the higher capital is 36.73 per cent, giving more than three times cover for the higher dividend. The latest year’s record result confirms that the company has made a full recovery from the unexpected loss in 1968 which culminated in the company being placed in receivership in November of that year.
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Bibliographic details
Press, Volume CXV, Issue 33932, 27 August 1975, Page 19
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143Footwear co. marches on Press, Volume CXV, Issue 33932, 27 August 1975, Page 19
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