FELT AND TEXTILES

Evening Post, Volume CXXIV, Issue 107, 2 November 1937, Page 12

FELT AND TEXTILES

CONSOLIDATED PROFITS

An aggregate net profit of £54,893 is reported by Felt Textiles of Australia, Ltd., anddts subsidiaries for the year ended June 30. ,

The net profit of the parent company, including dividends from the shareholders, was £44,521. A preference dividend of 6 per cent, per annum for the'half-year ended March 31 required. £12.00, and an ordinary dividend of 10 per' cent, per annum for the six months ended June 30 required £13,518. .... The company's public issue was made during March. Underwriting commission and other expenses in connection with the "issue, amounting to £6799, have; been written off, and £20,00 has- been transferred to reserve. From the balance of £37,659 brought into the accounts,- the preference dividend covering the six months ended September 30, and further dividends on shares prior to the rearrangement of capital, were paid, together amounting to £9092. This left £31,750 to be carried forward The company has announced a new issue of 178,000 ordinary shares since the balancing date. The directors are confident that, with reasonably good general conditions, a period of prosperous trading can be anticipated.