COMPANY AFFAIRS.

Auckland Star, Volume LXX, Issue 31, 7 February 1939, Page 4

COMPANY AFFAIRS.

BRITISH TOBACCO. ' CONSOLIDATED STATEMENT. A consolidated statement of assets and liabilities of the British Tobacco Company (Australia). Limited, and its subsidiaries as at October 31, 1938, shows that total assets at £13,536,034 are £46.718 .higher than in the previous year. This is the second consolidated statement issued by the company. The statement is as follows, with movements in the various items since the previous year:— . LIABILITIES. £ £ Capital 9.619,186 Same Reserves 1.925.389 +54,191 Res. used in business 604.222 +6,748 Subsid. coy's shares 12,550 Same Creditors 623,570 —15,747 Surplus ...... 751,116 +1,523 ASSETS. Investments 322,630 —619,002 I.and. buildings .... 1,109,093 +34,031 Plant 1,412,435 +100,314 Stock 6.665.186 +459,439 Goodwill, etc ..... 2.693,164 Debtors ...... 1,162,415 —18,877 Cash 171,107 +90,809 The sharp decline in the item investments is largely due to a reduction of £616,201 in holdings of Government securities. An appended note states that out of the surplus 6hown above the final dividend of 2 per cent, amounting to £162,989, was paid to holders of ordinary shares in British Tobacco Company (Australia), Limited, on December 31.

SOUTHLAND FROZEN MEAT. HIGHER DIVIDEND RATE. (By Telegraph,—Special to -Star.") DDU]O)IN, Ibis day. . A net profit of £21,'934 is reported by' the Southland Frozen Meat and Product Export Coy., I/td., for the year as against £30,985 in 1937 and £13,386 in 1996. A final dividend of 8d a share brings the year's distribution up to 15 per cent, compared .with the previous year's 13 per cent. The amount brought forward from last year was £47,488, less interim din-, dend £11,359, leaving £38,129. After providing fos taxation,, depreciation, repairs, renewals and contingencies, the net profit for the year ia £21,934, maViny the balance available in the profit and kas account of After payment of the final dividend of 8d on preference and ordinary shares balance to-carry forward' is £m?m.

SMALLER PROFITS RECORDED. The annual accounts of the Napier C* Company, Limited, for the year ended December 31 show net profits of £545. The balance at credit of profit and V* after payment of an interim dividend wi* £9289. The directors recommend payment of a further 2% per cent on preference and 3 per cent on ordinary shares, making in each case 5 per cent for the fafl year. Net profits in recent yeans have-beem— 1934, £6738; 1935, £7333: 1936, £725*; 1937, £7427; 1938, £5457. Last year 5 par cent dividend was paid on preference shares and f>Vz per cent on ordinary. Receipts by sale of gas, etc.. increased from £58,189 in 1937 to and expenses were much higher. Paid capitai is steady at £110,200.