Taylor plans

Press, 5 August 1985, Page 33

Taylor plans

Taylors Group, Ltd, plans to add further properties to its existing portfolio as part of a capital growth investment, says the chairman, Mr J. S. Taylor, in the annual report. The properties that the company has are occupied by its businesses, but they are managed as a separate investment with the operating companies paying rent. The company, formerly Taylors Drycleaning and Laundry Services, Ltd, of Christchurch, has moved its registered office and head office to Auckland, and its annual meeting will be held in that city for the first time. As reported, the total group net profit rose 76.1 per cent to $519,977 in the year to March 31, compared with the previous corresponding period. Included in the result was capital profits of $B7O ($5640 previously) and after goodwill written off of $67,300 ($25,000). Sales increased 16.2 per cent to $8,659,507. A recommended final dividend of 12c a share increases the dividend rate from 17c to 22c a share (22 per cent). The dividend requirement is $176,000 and it is covered 3.0 times by the profit. Shareholders’ funds rose $1,408,249 to $3,573,338, including steady ordinary capital of $BOO,OOO.

Working capital increased $302,685 to $1,056,343, and the current ratio was steady at 1.5 to one. The net asset backing a 100 c ordinary share was 447 c (271 c