DIVIDEND INCREASED

Evening Post, Volume CXXI, Issue 21, 25 January 1936, Page 12

DIVIDEND INCREASED

PROFITS OF BERLEI, N.Z., LTD.

The twelfth annual report of Berlei (N.Z.), Ltd., for the year ended December 19, reveals an increase both in net profits and in the dividend rate. There was a net profit, after making full allowance for depreciation and income tax, of £6260. To this is added the balance of £094 brought forward from last year. An interim dividend of Is 3d cer share paid in July absorbed £2187, leaving at the credit of profit and loss £4667. From this the directors recommend the payment of a final dividend of Is 3d per share, absorbing £2187, leaving to be carried forward a balance of £2479. The directors' report states that despite disturbed trading conditions, particularly in the latter half of the year, the company has been able to record an increase in sales. The building, plant, and machinery and other fixed assets have been well maintained, and liberal provision made for depreciation thereon. The continued co-operation between the associated Berlei Companies results in material benefits to the individual organisations.

The retiring directors, Messrs. N. Z. Brodziak and S. Reid, are nominated for re-election. Profits in 1934 totalled £5746, and in 1933 £5865.

This year's dividend of 12J per cent, compares with 83 per cent, last year. Paid capital stands at £35,000. Sundry creditors, including provision for income tax, total £7036, there is a reserve of £7500, and total assets (including cash in hand £4247), are £54,202.