G. J. COLES

Otago Daily Times, Issue 26233, 17 August 1946, Page 3

G. J. COLES

PROFIT SUBSTANTIALLY HIGHER A profit of £201,972 is reported by G. J. Coles and Co. Ltd., Melbourne chain store retailers, for the year ended June 30. Earnings show an increase of £30,571 on the previous year, and are the highest since the record result of £258,348 achieved in 1940-41. The latest profit is struck after providing for taxation and £80.858 for depreciation, against £93,954 provided last year. Profit equals a return of 8.4 per cent, on shareholders' funds. The preference dividend of 8 per cent, absorbs £12,000, and the ordinary dividend, which is raised from 10 per cent, to 12 per cent., re The e sum 1 0f'£35,000 Oast year £30,000) is transferred to general reserve making it £362.354, and £309 is carried forward, against £319 brought in. Income from Investments brought in is £3,104, against £3Ol in 1944-45. Issued capital is £1441,515, and reserves amount to £817,158. Current assets of £993.851 (last year £1,033,100) comprise stock £884.068 (£979.948), trade debtors £28,568 (£38,828), cash at bank £66.316 (overdraft), and “cS™S , *sbliitl'e“f’iE39!l.432 (USMjjO) isg&b, *B3B* 'Se|?"ufoS) employees’ fund, £19,282 (£22,351). Bast vear the overdraft with the bank was £92 387. The company’sinvestments m Government loans were increased from £70.000 to £150,000 during the year, and £12,524 was'paid to the employees superannuation fund.