Wilsons Cement Net Profits Rise Sharply

Northern Advocate, 30 May 1949, Page 4

Wilsons Cement Net Profits Rise Sharply

NET profit of Wilsons (N.Z.) Portland Cement, Ltd, for the year ended March 31 rose by £13,734 to reach the highest level for nine years at £47,190. *' , The result is reached after providing £20,180 more for tax at £66,265,

Dividends, raised from 4 7-12 per cent to 5 per cent, is at the best rate since 7i per cent was paid in 1941, and requires £30,000. Carry-forward is increased by £17,190 to £71,233. Profit from the sale of cement and lime, after promision for depreciation and all expenses except taxation, rose sharply by £36,349 to £82,622. Other income, including interest, dividends, rents and royalties, was £3665 lower at £30,950. Results for three years are:

•Increase, -Decrease. The balancing total Is £119,454 lower at £956,909. Shareholders’ funds are £821,916, compared with £804,043 in the previous year,, and current liabilities fell from £272,317 to £134,990. Fixed assets show little variation at £390,947, and investments, at £226,779 are slightly lower. In current assets, stocks are sharply reduced by £86,693 to £207,593, and cash is £37.125 lower at £17,200.

Ngararatunua Bids

Farewell To Teachers

A large number of friends gathered at the Ngararatunua School on Saturday for the .school committece’s official farewell to the head teacher (Mrs V. Donaldson) and Miss F. Johnson, infant mistress, who are leaving the school.

Mrs Donaldson is retiring and Miss Johnson is to be married.

The evening took the form of a concert and dance in the main room of the school, which was gaily decorated for the occasion.

Items were presented by the primer class of the school. Misses L. Puriri and R. Tepene sang a bracket of songs, accompanied by Mr F. Cross on the guitar.

A Maori song with actions was sung by Misses T. and B. Smythe, and Mrs Smythe danced the long-poi.

After supper, which was prepared by the ladies of the district, Mrs C. Tepene presented Mrs Donaldson and Miss Johnson with shoulder sprays.

Mr A. C. M. Finlayson spoke of the good work the two retiring teachers had done for the school, and expressed the regret of the residents that they would be leaving. The chairman of the school committee (Mr C. Tepene) made presentations to Mrs Donaldson and Miss Johnson.

March 31 1947 1948 1943 Brought In .. £45,792 £52,001 £54,043 Net, profit ... 31,209 33,456 47,190 £77,001 £85,457 £101,233 To reserve .. — 3,914 — Div. p,c. ... 4 1-6 4 7-12 5 Amount .... 25,000 27,500 30,000 Carried fwd. .. £52,001 £54,043 £71,233 LIABILITIES Paid capital 600,000 Same Gen. reserve 150,000 Same Plant reserve 683 *638 P. and L. a/c 71,233 *17,190 Creditors 41,571 -155,603 Owing to subsid. 9,654 -4,404 Tax provision 66,265 *20,180 Final div: prov 17,500 *2,500 ASSETS Property 208,921 -6,931 Plant, etc 182,026 *6,313 Shares in subsid. ...'. 50,000 Same Others' co.’s shares .. 11,381 Same Govt, loans, etc 165,398 -1,053 Cash 17,200 -37,125 114,387 *6,035 Stocks 207,593 -86,693