NET PROFITS LOWER.

Auckland Star, Volume LXXI, Issue 220, 16 September 1940, Page 4

NET PROFITS LOWER.

BARTHOLOMEW TIMBER CO SAME DIVIDENDS PAID. Though slightly lower- profite- wert earned this year by the Bartholomew Land arid Timber Company, Limited, th< earn e dividend of 5 per cent and bonus of ] i>er cent have been recommended. Th« profit for the year ended July 31, 1940, was £3049, compared with £3337 last year. Th< dh-eetors recommend a final dividend ol 2M: per cent, making 5 per cent for th« year. When the balance brought in is added and th< amount of the interim dividend deducted, the net sum of £7273 is left for distribution. The flna; dividend, and the bonus will take £1750. leavtne a balance of £5523 to be carried forward. The directors' report says that there has been a constant demand for timber during the year and while sales have increased additional taxation has more than offset the extra gross profit. The Government housing and rural building scheme should ensure a continued demand during tbe current year. The accounts are balanced at £73.946. compared with £75.460 last year. On the liabilities side, taxation reserve has risen from £2135 to £3076 this year, while creditors, at £2296. compare with £1788 last year. Among the assets, debtors, less reserve, now stand at £4158. against £5838 last year, a satisfactory feature.