COMPANY AFFAIRS.

Auckland Star, Volume LXVIII, Issue 133, 7 June 1937, Page 4

COMPANY AFFAIRS.

ROBINSON ICE CREAM. 1 NET PROFIT LOWER. DIYIDEXD UXCHAXGED. Record turnover is reported by the directors of Robinson Ice Cream Company for the period ended April 30. Despite the increase of production costs by over £2000. as the result of recent legislation, gross profits total £12.869. as against £12,059 the previous year. Xet profits at" £3559 are lower by £214. but the amount allowed for depreciation, £4165, is over £500 higher. | With £5826 brought forward, £9385 is j available. The directors recommend payment of a dividend of 6 per cent, unchanged. This will require £2160. 1 he report states that, although recent legislation has had the effect of increasing production costs by over £2000. a record has been established, and the.turnover was the largest since the inception of the company. The company's assets are now £47,320, against £45,972 last year, and the profit and loss appropriation account of £9385 is equal to more than 25 per cent of the paid-uo capital. machinery to meet the increasing denand is on order. During the year a modern van has been added to the fleet and the service in the northern suburbs has been completely electrified, with unqualified success in the saving of expenses and the increase of,business. It is the company's intention systematically to electrify the city side, and the balam e carried forward, together with accrued profits, will be utilised. Thus, operations will be extended and modernised entirelv out of earnings and without resource to the issue of reserve capital. The retiring directors. Messrs. T. Baster and E. Walker, are available for re-elec-tion. Chief items in the balance-sheet are: — Liabilities.—Paid capital. £ 36.000; creditors, £685; income tax provision. £1250. Assets. —Properties. £16.890; plant, machinery, etc., £27,112; ' sundry creditors, £910; bank, £2409. Results Compared. Results from recent accounts have been as follow: — Not Depreprotit. eintioil. Div. Year. £ f I'.c. i:>:;-_r :ii;:i2 s in-;.". MI 1'.K14 V.MIS :i41.-> <i l!i::r, 4<i::i{ 5191 7 1fi:;<; :;7T:s :'.61« 6 1(137 3559 4165 6 PROFITS INCREASE. N.Z. BREWERIES' YEAR. RISE OF £15,157 SHOWX. (By Telegraph.—Special to "Star.") CHRISTCHURCH, this day. A net profit of £100,559 is disclosed in the accounts of Xew Zealand Breweries. Ltd.. for the year ended March 31. as compared with £85,402 in the previous period. Beer duty took £616.5M1 this \ eai, against £508,680' 12 months ago. Gross profits before taxation was paid were £717.409 this year and £594.052 last year. The net profit is the highest since 1931. when the net figure was shown at £165.8(8 and the dividend paid w.is 12M: I*-'r cent. This year the dividend is 8% per cent. FARMERS' COMPANY.

OPERATIONS IN TARANAKI. XET PROFIT INCREASES. (By Telegraph—Own Correspondent.) XEW PLYMOUTH, Sunday. After making full provision -Tor book debts and depreciation of property and plant and after payment of a rebate to shareholders of 2 per cent on merchandise and of 10 per cent on stock commissions, the net profit of the Farmers' Co-opera-tive Organisation of Xew Zealand, Limited, for the year ended March 31, amounts to £34,891. Of this £13,938 is required for income tax, leaving a balance of £20,953. This, together with the balance brought forward from last year, leaves £26,350 available for distribution. The directors recommend a dividend of 5 per cent, requiring £10.495 and that £5000 be added to general reserve and £1000 to property reserve, and the balance carried forward.