INCREASED DIVIDEND

Dominion, Volume 30, Issue 189, 7 May 1937, Page 14

INCREASED DIVIDEND

Dental and Medical Supply Co. The directors of the Dental and Medical Supply Company, Ltd., report that business during the year ended March 31, 1937, maintained the steady improvement that was in evidence during the several preceding years. The uet profit this year was £2745 as compared with £1992 last year. Ample provision has, as usual, been made for bad and doubtful debts, and stocks have been taken at cost or market prices, whichever is the lower. Furniture, fixtures, fittings, motor-cars, and premises have all been written down at the usual rates. During the year the alterations and additions to the company’s building in Wellington were completed. An additional story was put on the building, and the ground floor was converted into live lockup shops. These shops have all been let, and the expenditure involved on the alterations has turned out to be a sound investment. The net profit for the year, £2745/13/11, with the balance of £57-1 4/- brought forward, makes a total of £3319/17/11 now available for distribution. The directors recommend the payment of a 4 per cent, dividend for the year (as compared with 3 per cent, last year) which will absorb £2311/18/5, and leave a balance of £lOO7/19/6 to be carried forward to next year. The transfer books of the company will he closed from May 4 to 17, inclusive. The retiring director, Mr. A. E. Allison, offers himself for re-election. Results and appropriations of the company for the last three years compare as follows: —

Brought forward Net profit Tear ended March 31. .1935 £ 37 1723 1936 £ 315 1993 1937 £ 574 2746 1760 2308 3320 Div., p.c Amount 2 J 3 4 •1145 1734 2312 Carried forward 315 574 1008 The principal items in the balancesheets for the last three years compare as follows: — 1935. 1936. 1937. LIABILITIES— £ £ £ Capital . 57,798 57,798 57,798 Reserve . 11,373 9,373 9,373 Xat. Bank N.Z. .. . 10,521 9,612 13,220 Creditors . 1.353 1,732 2,463 Profit and loss A SSETS— Properly . 1,760 2,308 3,320 . 32,ow 31,584 35,CM Plant. . 2,750 2.590 2.613 Stock . 29.36! ♦ 29,89(1 32.793 Book debts .... . 16,288 16.314 14,815 Sundry debtors 342 ■140 254