PETERS' ICE CREAM.

Auckland Star, Volume LXV, Issue 147, 23 June 1934, Page 4

PETERS' ICE CREAM.

RESULTS OF PAST YEAR. A statement that earnings from the sale of ice cream had been adversely affected by a succession of unfavourable week-ends last summer was made by Mr. J. A. Gentles, chairman of directors of the Peters Ice Cream Co. (N.Z.), Ltd., al the annual meeting of shareholders yesterday. Mr. Gentles said that early in the season important additions were made to the company's plant and machinery, and additional refrigerating equipment was installed. Although orders were booked for a greater output, the actual sales showed a decrease owing to the weather. The directors recommended that the profit of £541 be carried forward, making a total balance of £1141. Since the close of the company's year the directors had purchased the ice cream business successfully conducted by the Arawa Dairy Co., Ltd., at Whakatane and Rotorua. The business was already established, and should be of material assistance in increasing the company's sales. With favourable weather conditions, satisfactory results should be obtained in the coming season.

The report and balance-sheet were adopted. Messrs. P. IT. Fergusson and G. L. Thorburn were re-elected directors. The meeting passed a vote of thanks to the directors and staff.

GOLDSBROUGH, MORT. RECENT RISE IN PROFITS. DETAILS OF THE ACCOUNTS. A substantial improvement on the figures of recent years is shown in the accounts of Goldsbrough, Mort and Co., Ltd., wool brokers, etc., for the year ended March 31. of which a brief summary was published in the "Star" on June 15. Compared with the previous year, net earnings were more than doubled, and are the highest since 1930. Gross profit at £015,706 shows an increase of £107,031 on that of the preceding year, and net profit at £108,831 contrasts with £78,985, or an increase of £119,840. Net profit shows a return of 4.89 per cent on shareholders' funds, against 1.8 per cent in the previous year, and on capital the return is approximately 8.2S per cent. As a result of the greatly improved position, shareholders receive a dividend of 6 per cent for the year, compared with 2% per cent for the preceding two years. Wool sold by the company for the year amounted to 316,405 bales, and 1630 bales were shipped, making a total of 318,035 bales, compared with 327,147 bales for 1932-33. At March 31 the company's wool unsold in store amounted to 8128 bales, against 30,747 bales- at the corresponding date a year ago. The total carry-over in all Australian centres at March 31 was 87,085 bales, against 298,528 bales a year ago. The balance-sheet shows that, compared with the previous accounts, sundry creditors are up £162,730; but, against this, deposits with the company and interest are down £159,890. Cash and deposits are higher by £599,709, but advances, etc., have been reduced £510.919.

Items from the last three, accounts compare as under:—

1932. 1033. 1934. p.c. p.c. p.c. Dividend ... -i 2£ G £ £ £ Gross profit . 499,020 508,075 fiiri.7oo .Xet profit . . 05,294 75,985 195,531 LIABILITIES. Capital 2,400,000 2,400,000 2,400,000 Dob. Stock A 835.235 838,235 838,235 Deb. Stock B 580,407 580,407 550.4157 Reserve fund 1,965,000 1,545,000 1,525,000 Un (1 i v i d eel profits .. . 170,372 157.357 324,188 Sun. creditors 774,59 0 (542,754 036,153 ASSETS. • • Cash and deposits . . 90,991 158.020 758.329 Govern't and other securities 295.489 505,490 305.571 Advances .. 5.807,542 4,720,487 4,209,508 Propert's aiul stock 230,659 252,331 229,170 Other assets 74,702 78,272 93,528 Premises ... 018,028 010.445 039,900 Shares 42,199 35,199 34,970 0,728,670 6,193,544 6,304,042