BREWERY DEAL.

Auckland Star, Volume LXVII, Issue 110, 11 May 1936, Page 4

BREWERY DEAL.

TIMARU PROPERTY. PURCHASER NAMED. As already reported in the "Star," an extraordinary meeting o£ shareholders in the Timaru Brewery Company has been called to transact tlie following business: lo consider, and it' thought fit to approve, confirm and adopt an agreement entered into by the directors on behalf of the company subject to the approval of the company's shareholders for the sale of the company s undertakings, assets, business and goodwill as set out in the agreement. Our Ghristehurch correspondent telegraphs as follows:— The purchase pricc of Timaru Brewery | is understood to be approximately £64,480, | which represents about 15/3 per fully paid 10/ snare. The ofler, which it is authorii stated tt> have been accepted by limaru directors from New Zealand Breweries, will be placed before shareholders on May 25. The company has a capital of £48,000 in 10/ shares. The gross profit for the past five-year period has been: 1931, £10,001; 1932, £15.315; 1933, £18,077; 1934, £49.694; 193.5, £19,552. The net profit was £3715 in 1931, £499 in 1934 and £2963 in 1935, the 1935 figures showing a sharp improvement in the net result from the level of the previous two years. The accounts for the year ending February 28, 1935, showed the assets of the company to be £80,710, freehold and leasehold properties being valued at £32,423.