Insurance costs of Kirks rose 150 percent
Wellington department store Kirkcaldie & Noda has said that insurance premiums rose 150 percent so that other companies will benefit by this insurance cost increases. Kirks explained that insurance costs will add hundreds of thousands of dollars for expenses. This year, a book store pre-tax loss of $ 54,000 through August compared with pre-tax profits amounting to $ 1,370,000 a year earlier. “He cannot make predictions about Christmas sales,” Milford said.
Yesterday, shares of Kirks not changed and still remains in the range of $ 2.72. Milford also said that he would not comment on why the investor Sir Ron Brierley and old cohorts of Sir Selwyn Cushing has shown increased interest in the company, but he pointed to a solid property assets. Last month, shareholders of Brierley were 5.72 percent. Brierley is also a company that has been controlled by a former chairman of Brierley Investments, called Cushing. In June, its share would be 17 percent.
Milford has said that low liquidity will also affect the stock Kirkcaldies. Then, you can see quite clearly the value of what the stock could be worth if you look at how many shares are available and you see the value of the property and and if you take off the loan we had. After tax losses Kirkcaldie & Stains is $ 56,000, Kirkcaldie significant tax increase of $ 1,800,000 for losses last year.
