N.Z.T.S. plans another bonus

Press, 19 June 1979, Page 20

N.Z.T.S. plans another bonus

NZ.T.S. Holdings, Ltd, plans to make a one-for-uw bonus share after an 18 per cent increase in net rading profit to $2,214,839 in the year to March 31. The bonus will be the! fourth by the company inj Isix years. The directors said in their i preliminary report that the “very satisfactory profit was attributable to benefits from the integration of Victoria Laundry, Ltd, and Snowhite Laundries, Ltd. Expansion in the workwear division, with new products and an increased market share ot existing products; and 10 months trading y Wilcocks Wholesale, Ltd. which was bought for the automatic beverage machine division. The latest profit does not include a deduction of $101,876 arising from the elimination of the excess of the purchase price over net tangible assets of Wilcocks Wholesale, which was bought last June.

The group's earnings before tax rose 27 per cent to $3,973,088, after trading revenue increased 15 per cent. The provision for tax was $1,758,249, compared with the previous year’s provision of $1,266,270, which was reduced $95,966, by the trading stock valuation adjustment allowance. Depreciation provided was

,’570,782 higher at $1,084,489 I Shareholders funds rose' •|5608,197 to $12,877,559. after j writing off goodwill on con--■'solidation of $723,167 arising' jin previous years expansion .1 The return on average 11 shareholders' funds eased? 'from 18.3 per cent to 18.1. per cent. Net asset tucking a j was $1.65 ($1.48) and earn-,, 'lings a share were 28iz’ '{(24c). l i An unchanged tmal crrfw ■ dend of 5c (10 per cent) Is--1 payable on September 7" 1 making a steady total fop ■ the year ot 9c a share1 The total dividend tor year will require $781,599. ’ The directors expect iffat- ; the same dividend will Jbtf - maintained and this wou§» result in a 20 per cent Ju-- : crease in dividend to shar«-r ' holders after the bomjs' issue.