BANK'S PROFIT RISES

New Zealand Herald, Volume LXXIII, Issue 22584, 24 November 1936, Page 5

BANK'S PROFIT RISES

E., S. AND A. EARNINGS ADDITIONS TO RESERVES PREMISES ACCOUNT INCREASED A net profit of 1;2.17. IGI was made by the Mulish, Scottish ami Australian Hank, Limited, London, lor the year ended June 30. This compares with £213,.'j7!) in the previous year and £221 ,565 for 1933-31. An interim dividend of 2} per cent has been paid, requiring £75,000, and as announced in the Hkiiaid on .November 6, n final dividend at the same rate is recommended, making 5 per cent, unchanged, lor the year, tree of British income-tax. A sum of £15.000 is transferred to reserve fund, and £IO,OOO, an increase of £SOOO. to officers' provident fund. Other allocations are £50,000 to contingencies reserve and £2"), 000 to bank premises, and £'•'50(3,786 is carried forward, against £299,325 brought in. Gross profit rose by £76,885 to £1.102.713 and expenses and taxation by £62,974 to £84.5,253. Following is a comparison of the bank's results for the past three years:— JO3l 3035 1 !>.*») £ t i Brought forward 271,181 275,T18 200,325 Net profit .. 221,56.-1 'J 13,579 257,161 405,716 510,325 556,786 To reserve .. 15,000 15,000 15,000 Contingency ac. -50,000 50,000 50,000 Provident fund 5,000 5,000 10,000 Hank premises Dividend p.c. 5 . 5 5 Amount .. 150,000 150,000 150,000 Carried forward 275,716 200,325 306,786 The paid capital of the bank is £.'3,000,000. With this year's appropriation the reserve fund is increased to £.'3,265.000. The highest level in the bank's profits was reached in 1029, when earnings totalled £601,263. The profit in 1932 at £147,719 was the lowest since the war. TOOTH'S BREWERIES PROFIT AGAIN INCREASED EARNINGS ON HIGHER CAPITAL Increased profits 011 .1 higher capital are shown in the accounts of Tooth and Company, Limited, Brewers, of Sydney, for the year ended September 30. Net profit amounted to £696,027, as against £628,699 for the previous year, an increase of £67,328. The year's dividend is unchanged at 10 per cent and requires £589,016, being £562,059 on the old issue of shares and £26,957 011 the now issue. A sum of £50,000 is transferred to reserve fund, making it £BOO,OOO. £50,000 to reserve for depreciation of properties, making it £130,000, and £IOOO to the employees' benefit fund, bringing it up to £54,992. This leaves £49,844 to be carried forward, as against £43,833 brought into the accounts. Gross revenue rose by £121,111 to £1,505,002 on the* year, and expenditure was £53,783 higher at £808,975.

Following is a comparison of the company's results for tho past three years;— 10.31 1035 3030 £ £ i' Brought forward 11..">17. 17,708 Net profit .. 507,118 028,000 000,02,

011,005 070,107 73!).5(i0 To reserve . . ■ — 00.000 r»(u m>o Deprec. reserve 25,000 Benefit fund .. 5,000 Dividend, p.c. . 0 1 / a 10 lo Amount .. 533,057 562,050 t580,0 10 Cent, bonus, 2% p.c. —■ *20,515

Carried forward 17,708 13,833 in,si t 'This portion of the £110,515 required was paid from current profits. tOn increased capital.

In terms of the centenary issue of shares made to shareholders at par the capital shows an increnso of £562,050 to £6.182,657. Creditors arc owed £733,096, an increase of £61,197. Assets total £7,444,987, an increase of £619,598, of which £411,791 represents breweries, plant, rolling stock and freehold properties. HENRY JONES, LIMITED RECORD PROFIT EARNED INCREASE IN AUSTRALIA The accounts of Henry Jones Co-oper-ative, Limited, Melbourne, show total profits at £195,449 for the year ended October 31—a record for the company —compared with £149,621 in the previous year. Three-quarters of the increase is attributable to a gain in Australian income, and one-quarter to the absence of any taxation provision in the accounts, presumably because the .special Federal tax on income from property has been removed. The dividend has been raised from Is 9d to 2s a share, including 9(1 from income earned outside Australia. The distributions require £143,017, leaving £52,432 to be transferred to general reserve. The directors report that sales increased during tho year and that there was a satisfactory expansion in both the volume of and the profit from the company's export trade. Following is a comparison of the company's results for tho past three years 3031 1035 1030 Net profits— £ £ £ Within Ails. 08,280 05,771 111, >OO Outside Aus. 30,105 53.850 .>3,>».>o Total .. 131.181 110,021 105,110 Dividend p.c... 7V-j 8% Amount .. 107,'_'(i2 125,1.30 113,01, To reserve .. 27,'_M0 21,181 1 3'_ Jll the balance-sheet there is 110 change in tho entry of £2,269,493 for assets, which are grouped in one item, "Investments, at valuation, shares and interests in jam manufacturing, fruit, and general merchandise companies in Australia, South Africa, Now Zealand and England."

CALL AND DIVIDEND LIST

Dividends— Tooths —lO p.c. p.a. .. To-morrow Leyland-O'Brien—s p.o. p.a... To-morrow Westport Coal —final. Od a share; bonus, 5s a share . . To-morrow Nat. Bank A'asia —int., 5 1 /, p.c. pa . . .. To-morrow ' Tattersfield. Ltd.—B p.c. p.a... To-morrow Broken Hill Ply.—half-yearly, Is 3d a share; con., 5d a share .. • • ■ • To-morrow National Timber—-int., 2% p.c. To-morrow E., S. and iV. Bank —final, 2'/j p.c. (sterlinsr) .. .. Nov. 20 Palgety—final, 3>' a p.c. .. Nov. '_>(! Gillespie's Beach—ld a pliare . , Nov. 20 Bank N.B.W.—-quarterly, 0s a share, making s'/i p.c.. for year . . • - .Nov. 27 Wilsons Cement—int., Od a share Nov. 27 Queensland Insurance —final, 4 p.c., and bonus, 2 p.c. . . Nov. 27 Farmers' Trading—prsf.. A and B. 5 3-5 p.c.; C, 5 p.c. .. Nov. 30 Dunedin Brewery—int., 2'', p.c. Nov. 30 Henry Jones—final. Is (3d a share Dec. 1 Claude Neon—final, 4 p.c. . Dec. 2 North Broken Hill—ls a share Dec. S N.Z. Breweries—int., 1 p.c. . . Dec. 0 Placer Development—int., 50 cents • • Dec. 10 Tiuiolo—int., 1 dollar 10 cents Dec. 10 Broken Hill South—2s 0d a share Dec. 11 Bank N.Z. —int.. ord„ Is a share D mort., 3®« p.c Dec. 12 Kauri Timber- 5 p.c. .. T)ec 12 Mount Lyell-—final, IsOd a share Dec. 21 Morris Hedstrom -int., 2" : p.c. Dec. 31 P. and O. (deferred stock) —1 p.c. p.a. .. .. .. Dee. Calls—

Dominion Breweries—new, 2t 6d a snare Nov. 30