COMPANY AFFAIRS.

Auckland Star, Volume LXVIII, Issue 269, 12 November 1937, Page 4

COMPANY AFFAIRS.

DALGETY AND CO. INCREASE IX PROFITS. MELBOURNE, November 11. Dalgoty and Company, Limited, in a preliminary statement, report a net profit <)'' £173.000 for the year ended June 30, compared with £145,851 in the previous year. The dividend on the 5 per cent preference capital absorbs £25,000. The interim dividend of 3% per cent on ordinary shares is to be supplemented by a ti nil 1 dividend of 4V4 per cent, making 8 per cent for the year, less British income tax. The ordinary dividend requires £ 120.000. Results for the past three years compare as follows:-— 1935. 1036. 1937. tee Rrmizht forw'rd 12!i.47S 11«.267 122.118 Net profit 96.789 145.8.-.1 173.000 22«'- , fi7 2«2.1 1 8 205 .11 S Staff fund .... 10.1(00 25.000 25.000 Dividends — Pref., 5 p.p. . 25.000 23.000 25."00 Ord 5 fig* Amount ... 75.000 ftO.OOO 120.000 Carried forward 116,267 122,118 125,118 •Dess British income tax. SHARLAND AND COMPANY. HOPE FOR TAXATION RELIEF. (By TelegTaph—Press Association.) W ELLINGTON. Thwwday. At the annual meeting of Shar'and and Company, held to-day. the chairman, Mr. A. E. Mabin. expressed disappointment at the lower net profit. He 6aid they had a right to look for an amelioration of the heavy company taxation and graduated land tax. This totalled approximately £5000, equivalent to 80 per cent of what was returned to shareholders. The only alternatives to reduced taxation were either increased prices to the consumer or reductions in staff, neither of which was desirable, but both needed to l>e considered. Nevertheless, the company was in a sound financial position, and they hoped for a time when business would proceed on more nortnal lines. The report and balance-sheet were adopted. The final dividend of 2% per cent on both ordinary and preference shares made 5 per cent for the j-ear.

WESTPORT COAL COMPANY

FALL IX NET PROFIT. (By Telegraph—Own Correspondent.) DLXEDIX, Thursday. After providing for bad and doubtful debts, depreciation and all charges, and making provision for £1000 for the staff provident fund, the net profit of the Westport Coal Company, Ltd., for the year ended September 30, amounts to £23,812. The sum of £12,873 was brought forward from last year, making a total of £36.685 available. An interim dividend of 6d a share was paid for the -half-year ended March 31, which accounted for £11.250. leaving a balance of £25.435. The directors propose to pay a final dividend of 6d a share, requiring £11.250. leaving a balance of £14,185 to be carried forward. The net profit of £23.812 compares with £24,23.5 earned in the previous year, and £22,216 in 1935.