James Aviation recovers

Press, 25 February 1977, Page 18

James Aviation recovers

James Aviation. Ltd, re ports that the group auditet accounts for the year t< October 31 show a profit o $514.50-1 after providing fo: taxation and minority inter est. The group incurred < loss of $54,126 in the pre vious financial year. Full advantage has beet taken of tax-losses, and in centives available to th< group, and included for th< first time was the company's dated company’s, share oi the profit of asso ciated company's, whict amounted to $25,444. ant the results of Capital Aii Services Ltd. a subsidiary

company obtained on December 1. 1975. Group turnover for the yea rose 47.3 per cent to i $6.571.544 A change in lhe basis of charging depreciation in respect of revalued assets has resulted m a prior-period adjustment to the appropriation account of $201,347. Capital profits were $31,196. and the asset(revaluation reserve increased $467,692. The directors propose (hat an annual dividend of 125 per cent (12.5 c a share) be payable from the share premium account for the yet; Of this amount, an interim payment of 6.25 c a share 'was made on November 19 and the balance is to be paid ion May 20, ex May 17. 'provided that the current dividend restrictions are not ■ extended. After payment of the proiposed dividend shareholders' I funds show an increase from $2,529,768 to $3,607,598.