UNION OIL COMPANY.

Auckland Star, Volume LXVI, Issue 260, 2 November 1935, Page 4

UNION OIL COMPANY.

INCREASED PROFITS. DIVIDEND UNCHANGED. Increased profits are disclosed in the annual accounts just issued by the Union Oil, Soap and Candle Company. For the period ended September 30 net profits are shown at £5179. This, with the balance brought forward, £1428, gives a total of £6007. From this an interim dividend of 6d a share paid in May last absorbed £1873, leaving a sum available for appropriation £4732. The directors now recommend payment of a dividend ot 9d a share, which will absorb £2812, leaving a credit of £1920 to be carried forward. T Tho retiring director, Commander ii. -b. Hewitt, is nominated for re-election at the annual meeting to bo held on Friday next. The net profit is arrived at after making allowances of £3640 for depreciation and income tax. Last year the net profit was £4664, after allowances ot £3302 had been made. Chief items in the balance-sheet are: — Liabilities: Paid capital, £60,000; creditors, £4953; general reserve, £3M?°Assets: Stock, £23,777; debtors, £12,618; property and plant, £45,116; Government (securities, £23,015. The dividend of 1/3 per share for the full year is an unchanged rate.