Nestle (Aust.) Profit Up
(N.Z.P.A .-Reuter—Copyright) SYDNEY. May 10.
Net profit of the Nestle Company (Australia), Ltd., at £1.214,675 for the year ended December 31 shows a rise of £88,507, or 7.8 per cent. The previous year’s profit had risen £176,325 after a fall of £41.527 for 1958.
The latest result is after tax, £1.034,735 (disclosed for the first timet, and depreciation, £550.886 (up £49.796). Tax provision includes an adjustment to meet the previous year’s increased rate.
A bonus issue during the year raised the privately held ordinary capital from £4.500.000 to £5,750.000. Dividend of 13 per cent, absorbs an unchanged £747,500 (last year 16.6 per cent, on prebonus canital). Public preference charce of 8 per cent, takes £BO,OOO.
Earning rate on the bonus enlarged capital is 19.7 per cent, after deducting preference dividend. Reserve for replacement of fixed assets gains £383.503 (last year £300.000). leaving the carry-forward £3672 higher at £476.349.
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Press, Volume C, Issue 29510, 11 May 1961, Page 19
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152Nestle (Aust.) Profit Up Press, Volume C, Issue 29510, 11 May 1961, Page 19
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