BOND’S HOSIERY MILLS (N.Z.)

Dominion, Volume 30, Issue 147, 18 March 1937, Page 14

BOND’S HOSIERY MILLS (N.Z.)

Increased Turnover Boud's Hosiery Mills (N.Z.), Ltd., shows a net profit for the twelve mouths dend of 5 per cent., amounting to £2362 with £lO6B/13/5 brought forward, makes a total of £3932/8/7 available. The directors recommend payment of a dividend of 5 per cent., amounting to £2365 10/-. leaving a balance of £1569/IS/7 to be carired forward. During the year the directors allotted the 5500 shares unallotted at January 19, 1936. These were subscribed for at par and were fully paid up. Alterations aud additions to buildings and plant amounting to £13,808 accounted for the large increase in fixed assets in the balancesheet. During the year the company had worked to the full capacity of the plant and sold all the goods it could deliver. The increased turnover resulted in a large increase in floating assets. ■When the new knitting plant was in full production the output, of full-fashioned hosiery would be substantially increased and the company would be able to supply a much fuller range of goods. Gyving to legislation involving shorter hours, easier conditions and greatly increased wages and taxation, costs of production and distribution had advanced very sharply, and under the circumstances the directors regarded the year’s results as satisfactory. The retiring director,. Mr. Stronach Paterson, offers himself for re-election. Dunedin and Kaikorai Trams The directors of the Dunedin and Kaikorai Tram Co., Ltd., in their fortysecond annual report, st.ate that traffic receipts for the year ended January 31, 1937. totalled £10,107/10/8. a decrease of £133/18/4 compared with those for the previous year,. The cars ran 33,970 trips, covering 76,432 miles, aud carried a total of 1,179,496 passengers. Fuel costs advanced £l5B, due to higher coal prices. The 40-liuur week had caused an increase in costs. Sunday traffic had been run for many years at a considerable loss.

An interim dividend of 4 per eent. was paid for the half-year ended July 31, 1936. and the directors recommend a further dividend of 4 per cent., making 8 per cent, for the year.