CLAUDE NEON LIGHTS

Wanganui Chronicle, Volume 80, Issue 274, 18 November 1937, Page 11

CLAUDE NEON LIGHTS

HIGHER NET PROFIT. NEW BUSINESS INCREASES. The accounts o£ Claude Neon Lights of New Zealand, Limited, for the year ended September 30, show a net profit of £5564, an increase of £336 over the previous year. With £3449 brought forward, there is £9013 available for distribution. An interim dividend of 4 per cent, required £2242, and as was announced on November 11, the directors propose to pay a final dividend of 4 per cent., making 8 per cent, for the year, an unchanged rate. This will absorb £2522, leaving £4248 to be carried forward. Additions to general and special reserves amounted to £2392, including the premium on the new shares allotted during the year. These reserves low stand at £7403. The directors’ report states that new business has agairt increased considerably over that of the past year, and is £27,000 in excess of the contracts received in 1936. The total contract value on the books is now in excess of £153,000. Regret is expressed at the resignation from the board of Sir George Elliot. Mr. J. W. Tattersfield was appointed to fill the vacancy. Movements in the chief items of the balance-sheet are as follows:

Patent licenses and rights ’20,000 Same The increase in the capital was the result of the creation of 40,000 additional £1 • hares, of which 14,010 were offered to shareholders at a premium of 2s 6d each, all being taken up.

Liabilities. £ + 14,010 Capital - £ 70,049 Current liabilities ... 14,151 +913 Rentals in advance ... 5,850 +676 Reserves 7,403 + 2,392 P. and L. a/c 6,771 +1,081 Assets. Plant 3,261 + 586 Debtors 1,973 +199 Material and work in hand 77,921 + 18,600