MANNINGS N.Z.
Higher Sales Lift Profit "The Press" Special Service AUCKLAND, June 21. After higher sales in all departments. Manning (N.Z.) Ltd., Hamilton, manufacturer of veterinary products, lifted consolidated net profit by £3191 in the year to March 31 and achieved an earning rate of 15.1 per cent on shareholders’ funds. The profit of £24,848 represents a rise of 14.7 per cent. The previous earning rate was 14.5 per cent. As announced, dividend has been raised from 12 to 13 per cent. Latest result was struck after £1946 more for tax at £21,985 but £602 less for depreciation at £5015, including special depreciation of £825. Higher dividend takes £13,000 against £12,000 and with profit of £423 on sale of assets carry-forward is £42,419 compared with £30,148 brought in. The consolidated balancesheet shows shareholders’ funds increased by £15,271 to £164,555, paid capital being steady at £lOO,OOO,
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Press, Volume CVI, Issue 31092, 22 June 1966, Page 17
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145MANNINGS N.Z. Press, Volume CVI, Issue 31092, 22 June 1966, Page 17
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