UNITED BLG. PROFIT UP
Improvement To £7214 Net profit of the United Building Society of Christchurch improved by 1.4 per cent —from £7116 to £7214 in the year to March 31. Dividend remains a steady 7 per cent and takes £5968. Profits credited to B shareholders are £353, leaving £893 to be added to undistributed profits, now totalling £4251.
This year the accounts are affected by the Building Societies Act, 1965, the chairman (Mr R. P. Thompson) says in the annual report. The society’s property has been written up to current Government valuation and all reserves from retained profits have been combined under one heading. Total reserves are £39,343. Shareholders’ funds rose from £115,918 to £124,603. Earning rate on the funds is 5.8 per cent.
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Press, Volume CVI, Issue 31098, 29 June 1966, Page 21
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125UNITED BLG. PROFIT UP Press, Volume CVI, Issue 31098, 29 June 1966, Page 21
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