COMPANY AFFAIRS

Wanganui Chronicle, 8 June 1948, Page 8

COMPANY AFFAIRS

DENTAL AND MEDICAL SUPPLY LTD. Accounts of the Dental and Medical Supply Co Ltd., for the year ended March 31, show a net profit of £9OOl, against £7494 the previous year. Profit is struck after provision of £11,664 (£10,500 last year) for taxation. A further £3OOO (£2000) has been added to the general reserve, £2258 from the yeat s profits and £742 by transferring three small existing reserves now redundant. An additional £BOO (£1500) has been provided for the staff superannuation which was inaugurated during the year. With £5698 brought in there is a credit balance of £llO4l, of which the unchanged 6 per cent, dividend, plus a special jubilee bonus of 3 per cent, will absorb £5202, leaving a carry-forward of £6439. ZINC CORPORATION’S EARNINGS SHARPLY UP Accounts for the year 1947 will be issued early in June. After providing £926,000 for British and Australian taxation, £132,000 for depreciation, and £lOO,OOO for welfare, the net profit is approximately £459,000, compared with £290,745 for the previous of this profit the directors have allocated £lOO,OOO to general reserve, 120.UJU to profits equalisation reserve, and will recon imend'to the shareholders at the annual general meeting, which is provisionally fixed for June 30, the payment of a final dividend in respect of 1947 of 7/6 English currency for each ordinary share of 10/- and for each £1 unit of ordindry stock. Income tax is deductible at 9/-” in the pound. Ihis dividend, with the interim dividend, paid on Februray 21 last, makes a total distribution for 1947 of 10/- gross for each share or unit or oidinary stock, compared with </b fot 194 b and 2/6 for 1945. Subject to the aPPFJ val of the shareholders, the foregoing dividend will be paid on July 1, 1948. to Holders> on both London and Melbourne registers at June 14, rhe directors have also declared pay-able on July 1. dividends ot 2$ per cent, on botlr the 5* per cent, cumulative redeemable preference stock and the 54 per cent, cumulative preference stock, being the first half ol such dividends in respect ot the year ending December 31. 1948. These dividends will be naid less income tax at 9/- in the £ to holders on both London and Melbourne registers at June 4. Preference and ordinal transfer books will be closed for one day. June 4 All amounts are in English cuirency. Advice to this effect has been received by the Stock Exchange Association ot New Zealand. NEW BROKEN HILL’S FIRST DISTRIBUTION The accounts of New Broken Hill Consolidated fur the year 1947 will be issued early After providing £130,000 for British and Australian taxation. £26,600 for depreciation and £25,000 for welfare the net profit is approximately £116,000 compared with 181,007 for the previous year. The directors will recommend to stockholders at the annual general meeting provisionally fixed for June 30, payment of a dividend in respect of 1947 of 1/- English currency for each 5/- stock unit. Income tax is deductible at 9/- in the pound. Subjuct to the approval of stockholders, the foregoing dividend will be paid on July 28, 1948, to holders on both London and Melbourne registers on June 25 and transfer books will be closed one day, June 25. All amounts are in England currency. Advice to this effect has been received by the Stock Exchange Association of New Zealand. For the year 1946 New Broken Hill Consolidated made its first profit since incorporation 11 years previously. The dividend now announced is the first paid. DONAGHY’S ROPE Dunedin, May 31. “This year I had hoped to be able to teli you that’we had approached a year of mon normal trading and supply of raw materials, but the outlook is more difficult than ever, said the chairman of directors of Donaghy’s Rope and Twine Co., Ltd., Mr. J. H. Meek, at the annual meeting of shareholders. “Prices are extremely high and supplies uncertain, the position being further complicated by the infrequency of both local and overseas shipping. “Expensive delays at transhipment ports, both in Australia and New Zealand, 1 ave added to our troubles. Having made cur goods, we have the utmost difficulty in getting them shipped to our customers, who, In turn, arc unable to supply the requirements ml’ the public. Mr. Meek added that the company's plants were in excellent condition and large sums had been spent on them during the past year for repairs, reorganising and additions. The firm was carrying out a policy of steady replacement and extension of plants and buildings to enable it to keep ahead if the X'cquirements of the Dominion.