Bell’s growth all in TV market

Press, 22 July 1976, Page 18

Bell’s growth all in TV market

p.A. Auckland [ External sales by Bell Radio Television Holdings, Ltd, in the year to March 31 .rose 33.7 per cent, because of the demand for colour TV I sets, and the resulting increase in rental contracts and service work, the chairjman (Mr A. P. S. Bell) says [in the annual report. I As announced, the group continued its long run of profit increases with r i increase of 37.8 per cent to $682,916, which included a contribution of $19,632 arising from the adoption of 'equity accounting. The previous year’s profit of $496,504 did not contain a share of the earnings of associated companies. Net earnings before equity accounting in the latest year rose 33.6 per cent to $663,554. Mr Bell says that in normal times such a result

1 would have justified an increase in dividend or an1 other form of distribution, , but under the dividend I freeze regulations the comi pany was restricted to pay- / ing an unchanged annual 17j - per cent dividend. s . Colour TV sales have been -(buoyant, and sales of audio s [products steady. ‘ The company hoped to /market a number of new f .products in the current year. . | The profit was after pro- j > viding $111,582 more fori /depreciation of $599,146 and '5289,780 more for tax of! L $513.892. The earning rate on capi- . [ tai was 79.8 per cent (last year 58 per cent) and that Non shareholders’ funds 19.8 per cent (16.7 per cent). I Shareholders’ funds were ’ '5530,681 higher at $3,718,896 r including steady ordinary ’’capital of $850.259. I Term liabilities were • i 5400.082 higher at sl,u«/,082 /higher at $1,097.022.