HUME PIPE CO. (AUSTR.)

Dominion, Volume 29, Issue 300, 15 September 1936, Page 12

HUME PIPE CO. (AUSTR.)

Higher Profit, and Dividend .The Hume Pipe Company (Australial. Ltd., made a net profit of £34.005 for thyear ended June 30, compared with £23.050 the previous year and £5013 for 1933-34. Final dividend of 5 per cent, pet’ annum makes the year’s distribution 5 per cent., compared with 4 per cent the previous year The div'ilend "oquires £25.000. A sum of £lO.OOO ’been transferred to reserve, anil £11.8'9 is carried forward. nga’nst C1254!l brought forward. The directors report. that the improvement in business was maintained throughout the year. The New Zealand figures show a considerable improvement ami the increased profits were spreivi over th" whole field of the company's activities A considerable programme of new works has been announced by Government anil municipal bodies, and there are indications of a further increase in the company’s business. Capital is £500,000. reserve £lOO.OOO. assets fluctuation reserve £31.455, plant depreciation reserve £5O 000. anil provision for taxation ami coiitimzencies £l7. 671. Creditors are owed £40.298 As. sets are valued nt £763.774. of winch machinery, plant, and rolling stock represent £176.002. and shares in other companies £125.023. Patents are valued at £68.000.

Mandated Alluvials Issue

Mandated Alluvial*. N.L., will make a new issue of 28.0(10 shares of 5/- each at a premiumh of 5/-. The shares will be offered to shareholders in the proportion of 40 for every 100 shares held, payable 5/- on application and 5/- on allotment. The issue has been underwritten. The directors state that owing te Hie satisfactory reports received from the property, it is proposed to proceed with a more vigorous policy of development.