MILNE AND CHOYCE PROFITS,

Evening Post, Volume CXXXVI, Issue 54, 1 September 1943, Page 6

MILNE AND CHOYCE PROFITS,

Milne and Choyce, Ltd., drapers, Auckland, report for the year ended July? 31 a net profit £19,574, compared with £18,946 last year and £18,551 in 1941. Brought forward, £12,572, making total available, £32,146, from which the directors recommend the following dividends: 6 per cent, on preference shares, absorbing £420, 7 per cent, on B preference shares, absorbing £1050, 6 per cent, oh ordinary shares^ absorbing £1755, 6 per cent, on perpetual debenture stock, absorbing £11,925. All the rates are unchanged. The total distribution, including the interim dividend of £7575 paid in April, is £15,150, and the balance to be carried forward is £16,996. Gross profit at £193,729 compares with £197,550 last year. The report states that the volume of business has again been satisfactory.

ZINC CORPORATION. The Zinc Corporation, Ltd., advises the Stock Exchange that ..a'-modification, in the form of the, accounts thas. been made to show gross provision for taxation and net'amount of paid or accrued dividends, comparative figures of 1941 paving been. adjusted accordingly. Working costs were higher than in 1941, but mining and milling efficiencies were maintained and recoveries of, lead and silver show further improvement. Net profit, after providing £220,405 for mining royalty and taxation, was £104,590, compared with. £102,085 in 1941. Stocks have been valued on a cost basis. With £57,522 brought forward, the total available la £162,112. The fixed cumulative preferential dividend absorbed £36,649, . a participating dividend of Is per share is recommended, absorbing £35,706, and £58,051 is carried forward.