BURKE’S NET PROFIT UP

Press, Volume CVI, Issue 31108, 11 July 1966, Page 9

BURKE’S NET PROFIT UP

Earnings Lift By £3657

Consolidated net profit of Burke’s Caterers, Christchurch, rose by £3657—0r 21.2 per cent—to £20,938 in the year to March 31. Result is after £628 more for depreciation at £9962 and £4034 more for tax at £19,842. Dividend, steady at 9 per cent for the year, takes £11,250 and is covered nearly 1.9 times by the profit. Latest profit represents an earning rate of 10.3 per cent on shareholders* funds £9743 higher at £202,960. During the year the company bought the Home Bakery, in Colombo street, and so far trading results have been up to expectations, the chairman (Mr A. R. Guthrey) says in his report. Another subsidiary, the Winter Garden, also made a Satisfactory contribution to the over-all profits of the group. Revenue from the Bush Inn Hotel was again at a very high level, but some work has still to be done on the Majestic Hotel, at Palmerston North, to comply with the Standards laid down by the Licensing Control Commission.

The company is trying to get the White Hart licence transferred to Bryndwr.

N.Z. Cement.— The register of holders of registered unsecured « per cent convertible notes In New Zealand Cement Holdings will be closed from July 21 to July 31 to facilitate the payment of interest due on July 31; ex interest July 21. (P.A.)

Rets and Clendlnlng.—The 6 per cent dividend out of capital previously advised 1« payable to Ross and Glendlning shareholders before settlement and will now be paid on July 19 to shareholders who were on the register on July 4.—(P.A.)