Wilson, Horton Profit Recovery
(New Zealand Press Association) AUCKLAND, June 13. The recovery in consolidated net profit by Wilson and Horton in the year to March 31 took the earning rate on shareholders’ funds up from 8.9 to 10.1 per cent.
As previously announced, the profit rose from £226,711 to a new peak of £269,482 after having dipped from £260,993 the year before. The latest result was struck after providing £56,943 more for tax at £253,076 but £17,471 less for depreciation at £195,928. Total revenue passed the £5 million mark for the first time, the chairman (Mr M. A. Pattison) said in his annual report. As announced, the dividend has been raised to 9 per cent. Payment the previous year represented 8.2 per cent on capital raised by the one-for-ten bonus issue. The latest distribution requires £151,470 against £137,700. After a transfer of £50,000 (last year £73,000), to general reserve, taking it to £550,000, there Is a carry-for-
ward of £177,232, compared with £109,215 brought in. The consolidated balancesheet shows shareholders’ funds £118,017 higher at £2,672,643, paid capital being unchanged at £1,683,000.
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Press, Volume CVI, Issue 31085, 14 June 1966, Page 21
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182Wilson, Horton Profit Recovery Press, Volume CVI, Issue 31085, 14 June 1966, Page 21
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