NEW ZEALAND FARMERS.
NET PROFIT OF £60,183.
(By Telegraph.—-Press Association.'! CHRISTCHURCH, Monday. The annual report of the directors of the New Zealand Farmers' Co-operative Association. Ltd.. contains the following:—'"The confident anticipations expressed last year have been fulfilled, and we feel that the accounts now presented to you will be considered satisfactory. The gross profit amounted to ___>4,531 15/, against £191281 5/10 last year, an increase of £33,250 9/2. The net profit upon the trading operations amounted to £00.15.'! 17/10, from which has been deducted the cost of renovations and alterations to the premises, and any bad debts dealt with during the year have been written off out of profits, thereby leaving our reserve for doubtful accounts intact: in fact, it has been increased to £45,000. Presuming the proposal for reduction of capital, etc., as recently submitted to shareholders, and which was carried by an overwhelming majority, is confirmed, it is proposed to pay six months' dividend to preference shareholders."
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Bibliographic details
Auckland Star, Volume LVI, Issue 224, 22 September 1925, Page 5
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159NEW ZEALAND FARMERS. Auckland Star, Volume LVI, Issue 224, 22 September 1925, Page 5
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