HILL AND PLUMMER LTD.

Auckland Star, Volume LXV, Issue 143, 19 June 1934, Page 4

HILL AND PLUMMER LTD.

DIVIDEND OF 4 PER CENT. IMPROVEMENT DURING YEAR. An increase in profits from the low figure of £22 in 1932-33 to £2470 for the year ended April 30 last, was shown in the accounts of Hill and Plummer, Ltd., which were presented at the annual meeting of the company in the Chamber of Commerce yesterday afternoon. Mr. G. 11. Plummer, chairman of directors, presided. A recommendation that a dividend of 4 per cent be paid to shareholders was adopted, the amount absorbed by this payment being £2271. The balance-sheet showed assets valued at £76,437, which represents a conservative valuation of property and stock. The principal items are: Properties and plant, £30,645; stock, £27,657; debtors, £11,809; bills receivable and cash in hand, £1125; war loan debentures, mortgages and investments, £5100. Liabilities; as at April 30, 1934, in-cluded:—Paid-up capital, £56,780; overdraft, £1057; deposits at call, £5040; bills payable and sundry creditors, £ 2095; reserves, £900. The profit and loss appropriation account had a credit of £10,420. The chairman, in moving the adoption of the accounts, said there had been a general improvement in the building trade during the past year, and particularly in the summer months, and this had contributed to a definite improvement in the position of the company. It was thus possible to resume the payment of a dividend after the lapse of two years in which no distribution could be made. After the difficult years which had been experienced, the company was now-in a position to take advantage of a general business recovery as it developed. ' Mr. Plummer, the retiring member of the board, was re-elected.