NET LOSS BY KAURI
Write-off Of Investments : (N.Z. Press Assn. — Copyriphtl SYDNEY, June 27. Kauri Holdings, Melbourne, timber group, incurred a net loss of 83.684 dollars in the half-year to February 28, directors revealed today in the audited accounts. They say “this compares unfavourably with a small profit earned for the corresponding period of the previous year." In a preliminary statement in May the company announced it would not pay an •interim ordinary dividend for the February half-year. The statement said the company had suffered a trading loss during the period, after a 7 per cent fall in sales, but that a small trading profit was expected for the full year. Today’s accounts show that the loss was after providing 115,256 dollars for depreciation and 66,048 dollars for interest on debentures and fixed term loans.
In addition 90,625 dollars was written off investments and 5887 dollars was lost on the realisation on assets.
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Press, Volume CVI, Issue 31098, 29 June 1966, Page 21
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153NET LOSS BY KAURI Press, Volume CVI, Issue 31098, 29 June 1966, Page 21
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