COMPANY AFFAIRS.

Auckland Star, Volume LXII, Issue 253, 26 October 1931, Page 4

COMPANY AFFAIRS.

DOMINION PICTURES.

REDUCTION IN PROFITS. ORDINARY DIVIDEND LOWER. The eighteenth annual report of the directors of the Dominion Picture Theatres Co. shows a net profit for the year ending September 30 of £1110. Interim dividends at the rate of IVz per cent per annum on preference capital, and 5 per dent per annum on ordinary capital were paid for the half-year ended March, absorbing £1171, leaving a balance at the credit of the profit and loss account of £512. From this the directors recommend payment of a further • dividend of 9d a share on preference shares, making-7% per cent for the year, leaving £373 14/1 to be carried forward, as against £573 brought into the accounts.

The directors express regret that "they cannot recommend a filial dividend on ordinary shares. A further sum of £557 had been written off the company's build: ings by way of depreciation. The building and theatre had been maintained in good order, .but rentals had had to be materially reduced to meet the present economic conditions. The retiring directors, Messrs. R. T. Michaels and W. S. Whitley, are offering themselves for re-election. .... • Following is a comparison of the company's'results for the last three years:— 1929. 1930. 1931. ■£ £ £ Brought forward ... 935 .835 573 Net profits ........ 3275 3112 1110 ■'" £4210 £3907 £1682 Dividends— •'.•„■ Pref 1\ 75 75 . Ord, .. 75 • 74 25 Amount 3374 3374 1309 Carried forward .... £835 £573 £373 BRUCE WOOLLEN CO.

. The annual report of directors ;of the Bruce Woollen Manufacturing Co. states that after stocks of-goods in hand and in process of manufacture had been 'written down to costs .based on present prices of raw wool, the net profit for the year amounted to £6518. ' Provision had been made for depreciation ,to the extent of £3000 on plant and buildings, and it was recommended that from the balance standing to the-credit of the profit and loss appropriation account, £3955, the dividend on preference capital amounting to £3500 should be paid, and that the balance of £ 45a should be.carried forward.