FAIRYMEAD SUGAR CO.
DIVIDEND, 10. PER CENT. The Fairymead Sugar Company, Limited, reports a net profit of £31,745 for the year ended December 31, almost double that of the previous year. The dividend is increased from 8 per cent to 10 per cent, requiring £26,.">00 > and £5000 is transferred to reserves. The report states that growing conditions improved as the season progressed, and a good average crop was harvested. The sugar content, of the cane was relatively low, and the price received for the manufactured sugar the lowest for many years. The experimental plant installed at Fairymead for irrigation tests proved satisfactory, and the directors decided to consolidate this work. A smaller plant is being tried on one of the company's outlying plantations. Tbc&prop for the coming season promises to well above the average, and to meet the heavier crushing that is expected the mill plant is being overhauled and strengthened. Depreciation to the extent of £14,865 has been provided for on mill machinery, buildings, railways and other plant.
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Auckland Star, Volume LXV, Issue 138, 13 June 1934, Page 4
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169FAIRYMEAD SUGAR CO. Auckland Star, Volume LXV, Issue 138, 13 June 1934, Page 4
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