ICE-CREAM INDUSTRY.

Auckland Star, Volume LXIII, Issue 140, 15 June 1932, Page 4

ICE-CREAM INDUSTRY.

ROBINSON'S ICE CREAM. ,

DIVIDEND 8 PER CENT.

At the annual meeting yesterday oE shareholders of Robinson Ice Cream Co., Ltd., Mr. W. M. Neumegen, chairman of directors, said the past year had been a satisfactory one. The gross profit for the twelve months ended on April 30, £10,480, was 45 per cent of the total sales. The allowance for depreciation was £3032, which was £1433 more than last year, but it was felt tliis was necessary in view of the present unfavourable trade conditions. It was hoped to pass the winter season without the need for a bank overdraft.

The report and balance-sheet, details of I which appeared in the "Star" on June 2. j were adopted. The unchanged dividend of 8 per cent, which was recommended by the directors, was approved. The election of directors, two of whom retired by rotation, was adjourned for a future meeting, when suggested amendments to the articles of association will also come up for consideration. PETERS ICE CREAM CO. FIRST ANNUAL REPORT. EIGHT PER CENT DIVIDEND. The first annual meeting of shareholders in the Peters Ice Cream Co. (N.Z.), Ltd., was held last evening, the chairman of directors, Mr. J. A. Gentles, presiding. The annual report stated that the profit on the year's transactions, after making full provision for depreciation, and writing off preliminary expenses, amounted to £824. From this it was recommended that a dividend at the rate of 8 per cent per annum be paid on shares from date of allotment, absorbing £385, honoraria to directors £120, and to carry forward £320. The report stated that the company's product had been well received by the public. The report was adopted, and Messrs. J. A. Gentles and P. H. Ferguson were re-elected directors.

The balance-sheet shows a nominal capital of £10,000, with £8525 issued and paid up.