QUILL MORRIS YEAR

Press, Volume C, Issue 29518, 20 May 1961, Page 16

QUILL MORRIS YEAR

Accounts For 14 Months

Consolidated net profit of Quill Morris, Ltd., Christchurch wine and spirit merchants and soft drink manufacturers. was £23 307 in the 14 months ended March 31.

Compared with the £23,092 earned in the previous 12 months, the earning rate shows a fall of 7.4 per cent., but the 1959-60 accounts included £ 13,300 in nonrecurring items of income. The latest years’ profit was reached after providing £2697 (up £416) for depreciation and £19.072 (down £4053) for taxation.

A bonus of 2 I per cent, is added to the final dividend of 6| per cent, to cover the extra two months of trading. Total payment for the 14 months is 15 per cent., compared with 12) per cent, in the previous 12 months.

Recommended transfer to reserves is £5OOO (£lO.OOO last year). Appropriations fall short of profit by £3307 and carry-forward in the consolidated accounts will be raised to £16.658. Capital, Reserves

Paid capital is steady at £lOO,OOO. Shareholders'funds (before this year’s transfer to reserves) are £9807 higher at £169.231. Current liabilities rose £ll5l to £94,229. They include a new overdraft of £24.822. An unsecured liability of £2OOO is unchanged. Current assets are £15,085 lower at £lOl 693. but investments rose £25.224 higher at £95,885. Fixed assets rose £Bl9 to £67,882.