Loss based on replacement value method
PA Auckland. The $120,837 loss incurred by Claude Neon Lights of j N.Z., Ltd. in the year to De-| cember 31 was based on the! replacement value method,! the annual report shows. This method is used throughout the Philips Electrical group, which has a controlling interest. Had the orthodox method been used, there would have been a pre-tax profit of about $130,000, but shareholders’ funds would have been $2.3M instead of S3.IM says the chairman (Mr J. Hoekman). The demand for the company’s products was depressed by the economic climate and a further drop was caused by the power restrictions. As announced. Philips was offering to buy out the minority shareholders at 150 c a share, but this move was being resisted.
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Press, 27 July 1976, Page 18
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128Loss based on replacement value method Press, 27 July 1976, Page 18
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