PROFIT LOWER.
COLONIAL SUGAR CO
£1,005,670 FOR YEAR.
DIVIDEND VA PER CENT
(Received 1 p.m.) SYDNEY, tins day. The Colonial Sugar Refining Company reports a net profit of £1,005,670 for the year ended March 31. For the first time the accounts cover the full year, in accordance with alterations to the articles made last year. The dividend is maintained at 7V£ per cent, which requires £577,500
After placing £100,000 to reserve there is £463,144 to be carried forward. The reserve now amounts to £1,050.000.
The directors state that, as expected. the output from the company's mills wm lower than in the previous year. Adverse weather has delayed planting for next year and it is now too late to complete the whole programme.
The profit is £.55,116 less than that earned in the previous year, £1,060,786
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Bibliographic details
Auckland Star, Volume LXX, Issue 118, 22 May 1939, Page 6
Word Count
135PROFIT LOWER. Auckland Star, Volume LXX, Issue 118, 22 May 1939, Page 6
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