HENDERSON, POLLARD
Earning Rate Improves (N.Z. Press Association! AUCKLAND, July 22. Henderson and Pollard, Auckland timber merchant and joiner, lifted the earning rate from 6.2 per cent to 7.3 per cent on shareholders’ funds increased by a series of share purchases during the year to April 30. Consolidated net profit rose by'£23,073, or 32.9 per cent, to a new peak of £93,255, reflecting the benefit gained from additional plywood equipment, greater output of particle board, new ventures and a growing contribution by subsidiaries. As previously announced, the ordinary dividend has been maintained at 8} per cent on capital raised from £650,749 to £728,811. During the year the company acquired the Harihari Boxmaking Co. Ltd., Martini and Sare, Ltd., and bought an area of land at Takanini. The profit was struck after deducting minority interests of £4506 against £3258 a year ago, and writing-back a tax adjustment of £741 (£137). Depreciation amounted to £90,701, a rise of £16.090, while tax provision was £2093 higher at £65,835.
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Press, Volume CVI, Issue 31119, 23 July 1966, Page 18
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165HENDERSON, POLLARD Press, Volume CVI, Issue 31119, 23 July 1966, Page 18
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