AUSTRALIAN ALUMINIUM
Net Assets Up £3,Bm
f N Z Press Assn.—Conwnahtl MELBOURNE. May 9 Australian Aluminium Company, Ltd., increased consolidated net assets by £3,805 929 in the year to December 31 to a total of £11.007,204 The increase was financed by raising new capital, a loan from shareholders, and increased liabilities. Paid up share capital was lifted by £1.4 million to £2H million and shareholders also advanced the loan of £900.000 Current liabilities are up from £1.650.090 to £2,707,808 The major increases in current liabilities were in bank overdraft, from £59,456 to £811.678. and creditors, from £182,716 to £449.887 Fixed Assets £7m Today’s balance sheet shows fixed assets £3 225,600 higher at £7.068,040, the major part of the increase being construction work in progress. Current assets are £1.375.441 higher at £3.939,164. Most of this is higher stock on hand and in transit. Consolidated net profit, already announced, was £470,370, compared with £466,395 in the previous year.
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Press, Volume C, Issue 29509, 10 May 1961, Page 19
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156AUSTRALIAN ALUMINIUM Press, Volume C, Issue 29509, 10 May 1961, Page 19
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