Vibrapac Blocks’ Profit Advances

Press, Volume CVI, Issue 31121, 26 July 1966, Page 21

Vibrapac Blocks’ Profit Advances

Consolidated net profit of Vibrapac Blocks, Christchurch-based concrete masonry maker, rose 24.9 per cent—from £51,688 to £64,567 — in the year to March 31.

Turn-over exceeded £lm for for the first time to reach £1,036,495, an increase of 20.3 per cent; costs were held down and rose 19.4 per cent and administrative expenses and interest charges by only 7.9 per cent. Depreciation increased 24.1 per cent and the provision for tax climbed from £41,356 to £64,851. However, the earning rate on capital eased from 31.3 per cent to 25.5 per cent, because of the increase in capital from £165,172 to £252,949. A take-over, conversion of notes, a bonus issue and the issue of shares to employees account for the higher capital. Earning rate on shareholders’ funds —up from £309,133 to £425,381—fe1l only marginally, from 16.7 per cent to 15.2 per cent Dividend, as announced earl-

ier, has been increased tn Hi per cent It takes £25,837 and is covered 2,5 times by profit

Total appropriations are almost 75 per cent higher: £10,112 goodwill and preliminary expenses has been written off, £lO,OOO has been transferred to both the general reserve and the provision for obsolescence accounts, and £5OOO to the special reserve fund.

Carry-forward is £42,610 against £38,800 brought in.