BUSINESS RECOVERY

Dominion, Volume 28, Issue 106, 29 January 1935, Page 12

BUSINESS RECOVERY

Results of Companies HIGHER EARNINGS LAST YEAR A comparison of the results of 330 public companies, comprising 297 Australian and 33 New Zealand, which closed their accounts on or after June SO, 1934, is made in the latest issue of Jobson’s Investment Digest. Of these companies 270, 245 Australian and 25 New Zealand, equivalent to 81.82 per cent, of the total, last year improved on their 1933 earnings. Net earnings touched bottom in 1931, since when results have shown steady improvement. Last year net earnings rose by £1,809.340, or 24.75 per cent., to £9,122,190, equal to 7.1 per eent. on capital, against SI per cent, in 1930. Of this, £7,460,240, representing £5/16/104 per cent, was paid in dividends, compared with £8,303.383. or £6/16/4 per cent, in 1930. In Australia the capital of the 297 companies dropped £2,380,749 to £120.882,523 during the past four years, while net reserves, after deducting goodwill and other intangible assets, rose by £4,209,546. making a net improvement of £1 ,- 828.797 to £157,504,318 in net shareholders’ funds. The .net tangible assets in 1930 equalled 25/3 for each £1 invested. and are now equal to 26/OJ. The capital of the 33 New Zealand concerns in the same period rose by £232,886 to £6.776.610. while at £3,989.40S, net reserves were £322,157 greater. Shareholders’ funds increased by £555.043 to £10,766.018. The net tangible assets value has increased from 31/24 to 31/91 for every £1 invested.It is encouraging also to note t hat’fewer losses were suffered last year. Of the companies included in the summary the numbers operating at a loss were as follow, New Zealand totals being given in parentheses:—l93o. 42 (2); 1931, 100 16) ; 1932. S2 (8) : 1933. 57 (5) : 1934. 33 (2). Of the 34 groups into which the companies are divided, only banks, electricity and gas companies failed to improve in 1934 on their 1933 earnings. An improvement is shown in the aggregate profits of 62 manufacturng concerns, which at £1.223.520 were £195.892 above the 1933 figures and only £85.630 below the aggregate for 1930. Retail business also reflected improved conditions, the aggregate earnings of 35 firms being £791,464. compared with £557.420 in 1933 and £957,474 in 1930. Better conditions also are proved by the figures of land, building and investment companies, while greater earnings in the trustee and financial group reflect higher investment prices. -The wholesale motor group, which could to a large extent be classed as a luxury trade, doubled its earnings last year. DEALINGS ON ’CHANGE Yesterday’s Sales The following sales were recorded yesterday on the stock exchanges mentioned WELLINGTON. £ S. <l.

Inscribed Stock. 3) p.c., 1938-52 JOG 15 0 Bank of New Zealand *2 10 6 Ditto ... 2 10 0 Ditto, D ijiort. (2) 1 9 0 Reserve Bank 0 13 O Auckland Gas *1 0 9 New Zealand Insurance, cum div. *3 11. 0 Standard Insurance 3 12 0 Gear Meat (2) 1 1 9 Wellington Woollen, ord 5 10 -O Ditto, pref 5 10 0 British Tobacco, Aust, delivery *1 19 5 Ditto (Aust.) 1 19 O Colonial Sugar 41 5 0 Dunlop Perdriau *0 19 9 Waihi *1 19 11 Unlisted Woolworths (Syd.), ord. 4 12 0 Ditto 4 12 0 ’Late sale Saturday. AUCKLAND. • £ s. d. Government Bonds. 4 p.c.. 1940 . 103 10 0 Inscribed Stock, 34 p.c., 1938-52 100 15 O Bank of New Zealand 2 10 3 South British Insurance 4 17 0 Standard Insurance 3 12 0 Auckland Gas (2) 10 9 Devonport Ferry 12 9 Howard Smith 0 IB 3 Huddart Parker 1 10 9 Colonial Sugar 41 5 0 Consolidated Bricks 0 10 1 Gear Meat 1 1 10 Henrv Jones 1 15 0 N.Z. Drug Co 3 19 0 Woolwortbs (N.Z.), pref 2 0 9 Mataki 0 1 10 Skippers 0 0 04 Talisman Dubbo 0 10 o' Waihi (2) 1 19 3 Mount Lyell 0 10 6 Unlisted:— Woolworths (Syd.) 4 11. 0 Ditto 4 11 O Golden Crown. Cd. paid O 2 1 CHRISTCHURCH. £ s. <l. Comm. Bank of Aust., cum div. 010 7 Bank of New Zealand (5) 2 10 3 Reserve Bank (2) 6 12 9 N.Z. Refrig., 10/- paid, cum div. 010 1 N.Z. Breweries 2 11 3 Ditto (4) 211 1 Big River 0 2 1 Mount Morgan 2 0 0 Skippers (2) 0 0 0 Sales reported:— Reserve Bank f, 13 o N.Z. Refrig., £1 paid, cum div. 1 1 1 Ditto. 10/- paid. cum div O 10 1 Skippers () 0 6 Unlisted:— Argo Gold. 10jd. paid o 1 5 Woolwortlis (Syd.), ord 4 12 0 DUNEDIN. „ £ s. d. Bank of N.Z.. I) mort 1 9 q N.Z. Refrig., £1 paid (2) ~ ) 1 i Inscribed Stock. 4 p.c., 1940.... 100 10 0 Unlisted:—■ Woolwortlis (Syd.), ord 4 12 6

Austral Malay Tin The interim report of Austral Malay Tin, Limited, states that practically no prospecting lor tin was carried out during the year. Several investigations uf gold-bearing areas in Malaya and Siam failed to develop a property of sufficient merit. In Australia the gold-dredging area prospected in Tasmania was abandoned. Of many properties offered in Queensland, New South Wales. Victoria and New Zealand, none of value was proved, but preliminary prospecting of areas in New Zealand had encouraged closer work upon them. British Stock Markets (British Official Wireless.) Rugby, January 21. The stock markets are quiet. Giltedged securities are easier. War Loan. 31 per cent., is quoted at £lOB/13/9.