WRIGHT, STEPHENSON

New Zealand Herald, Volume LXXII, Issue 22108, 14 May 1935, Page 5

WRIGHT, STEPHENSON

SLIGHTLY REDUCED PROFIT ORDINARY DIVIDEND HIGHER PAYMENT OF 4 PER CENT The accounts of Wright, Stephenson and Company, Limited, for the year ended March 31 show a net profit of £40,.321, compared with £41,354 in the previous year. With £13,605) brought forward, and after deducting £10,750 for interim dividend payments, there is £43,180 available. From this the directors recommend payment of preference dividend at the rate of 5 per cent per annum, and a final dividend on ordinary shares of 2£ per cent, making 4 per cent for the year. This will absorb £13,752, leaving £29,428 to be carried forward. In the previous year the ordinary dividend was 3 per cent, but there was no distribution in 1932-33. Following is a comparison of the company's results and appropriations for the past three years:— ion IQ'M 1Q35 Brought forward . £27,116 Net profits .. .. I.#oßß ~ • 4 67.R651 From reserve .. 46,9-15 £6,246 £41,354 £53,930 Dividend Prof., po. ... 24 7J* 5 Amount .. .< 6,246 18,738 12,492 Ord., p.c. . ♦ Amount .. .. Carried forward .. 'lncludes 2$ per cent 1933 arrears. tAfter writing off £98,224, provision for bad and doubtful dabts. In the balance-sheet, paid capital and reserve fund are unchanged at £550,082 and £28,133 respectively. Debenture stock is £21,635 lower at £645,610, while sundry creditors are £47,296 lower at £868,725. Total assets are £2,135,730, against £2,274,432 a year ago. Stocks are £73,991 higher at £208,965, while sundry debtors aro £212,257 lower at £1,246,284. There is a credit bank balance of £17.844, and £18,158,, in cash, the respective figures last year being £62,355 and £15,269.