COMPANY AFFAIRS.
MORTS DOCK POSITION. £15,000 ADDED TO RESERVES. In addition to allowing an increase in the dividend and the payment of a special bonus, the doubling of the profits of Sforte Dock and Engineering Company, Limited, Sydney, has strengthened the balance sheet position. With a net profit of £63,533, and £18,298 brought forward, there is £81,831 available. The 5 per cent dividend proposed will take £32,500, and the 1% per cent bonus £9750. The directors recommend that £15,000 be transferred to reserves, leaving a carry-forward of - £24.581. The issued capital is unchanged at £650,000, and reserves used in the business at £57,789. The profit and loss balance of £81,831 ie nearly doubled, but as was done last year,' this figure is computed before the dividend for the year has been paid. Secured debenture liability is increased from £164,142 to £190,512, and sundry creditors are slightly lower at £65,275. On the assets side property plant, etc., is valued slightly lower at £847,664, while stocks work on hand, etc., is up £62,030 to £195,236. The balance sheet total is £1,047,408.
SELFRIDGES' NEW DIRECTORS. SYDNEY, August 15. The-fifth racancy on Self ridges' directorate has been filled by the re-election of Mr. A. Lambell, formerly joint managing director. He and Mr, Phillips are the only 'original directors re-elected. The other • members of the board, who were elected last week, are Messrs. J. Austin, J. Carpenter, W. Hull and Herbert Phillips.
COMPANY AFFAIRS.
Auckland Star, Volume LXIX, Issue 192, 16 August 1938, Page 6
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