Walker and Hall coup

Press, 16 August 1980, Page 19

Walker and Hall coup

Walker and Hall NZ, Ltd, Auckland silversmith, seems to have pulled off quite a coup with its recent takeover of a company selling silver as an investment.

Walker and Hall bought the remaining 60 per cent of Silver Associates, Ltd, that it did not own in November, and the deal had led to a transformation of the old established importer and distributor .of silver. After the inclusion of only six months trading of the silver broker, Walker and Hall’s sales for the year to

April 30, 1980, have increased 663 per cent, the profit rose 180 per cent, and the dividend is increased 43 per cent.

Turnover for' the year r.ose from $841,765 to $6,424,000— presumably largely because of the inclusion of Silver Associates’ activities.

The profit r.ose from $108,324 to $303,705, and the tax provision was $225,667, compared with $70,618 last year.

The profit returns 141 per cent on capital, which covers

the 20 per cent dividend seven times.

Last year the company paid a 14 per cent dividend. The directors noted that the second six months of the year saw trading from Silver Associates included in the accounts, and this tallies with the half-year result, which was the profit rise from $44,044 to $55,000 after a sales increase from $389,091 to $471,208. A final 10 per cent dividend will be paid on September 19. ex dividend September 5.