LITTLE LOWER PROFIT.

Auckland Star, Volume LXXI, Issue 93, 19 April 1940, Page 4

LITTLE LOWER PROFIT.

! BURNS, PHILP (SOUTH SEAS). NET FIGURE OF £58,331. ! INCREASK IN RESERVES. ■ A small diLieasc in profit is shown in , the annual accounts of Burns. Philp (South i.Sfasi Company. Limited, which are to be [submitted to the 20th annual meeting at Suva on April 2". The profit for the year [ended January .'!! this year was £38.331, ; coui|i:ired with L'lin.S.W last year, a deirease of i:2.VJ3. Of that amount an interim dividend of 7ii ppr share (Australian currency) was paid, leaving a balance of £36.4.)6 to be dealt with. The allocation of that sum i> to be recommended as under: -Final dividend of Sd a share. £2.">.0H0; balance carried forward. £11.456. Tlie amount written off as depreciation prior to the closiiii! of the books at January 31 was. Items in tho balance-sheet with those for I!M are: UABIUTIBS. iii:;>» l!i40 K £ Snhsrrihotl capital 7.*0,«>00 Same ' 'n-iliturx -Jl .(isi 1>11.433 K' -vi' fund (wholly used in husinoss) .... ISo.OOO 130.000 ASSETS. I'ri'iMT-ly 314.220 384.540 In vest incuts •J(J4.."i64 258.09e fash ..11 hand and at '•">.n ou'.sr.e, «ir,.7i4 priHluce. sliippinu' lli".S3t» U5.803 Bimk lights and bills ri>i-i'ivjiMc IDO.joi , ]f.3.2^1 TJie balance-sheet is balanced at £"072,164, against £962.326 last year.

LOWER EARNINGS.

MARTHA GOLD MINING CO. . - j MORE GOES IN TAXATION". Cabled advice lias been received from London by Mr. J. H. G. Banks, local director and attorney, that the net profit for 103!) of the Martha Gold Mining Company ( Waihi), Limited, was £62.250. As stated in the •■Star"' on Wednesday, the directors, at the annual meeting on May 0, will recommend a final dividend of 9d a share, mailing 1,3 for the year, or 2-5 per cent. The profit for the year shows a fall of £7092. compared with last year when the amount was £69,342. In 1937, the profit was £100.427. The year's dividend absorbs £01.989, leaving £5756 to be carried forward. The sum of £5485 was brought forward from 1938.

Higher gross profit was recorded in 1939 than in the year before that—£l37 070 against £132.006. The amount necessary to provide fcr both Xow Zealand and British income tax has also substantially lnci eased -£70,217 in 1939 against £57.822 in 1938. Depreciation was written off to the extent of £4603.

MANAGER'S REPORT.

PERIOD ENDED APRIL 6. (By Telegraph.—Own Correspondent.) WAIHI, this day. The following information has been cabled to London for the period ended April 6, 14.058 tons of ore were crushed "?« 0f ., 36960z of fine jrold and 29,0W0z of fine silver. The crushing time was 17 days.

BANK OF NEW ZEALAND. BOXUS TO THE STAFF. The directors of the Bank of Xew Zealand announce that, subject to audit, they will recommend at the annual meeting on June 21, a final dividend to ordinary shareholders of 1/ a share. This, with the interim distribution of a similar amount, will make 2/ a share for the year ended March 31, equal to 10 per cent per annum, which is unchanged. In addition, the directors have approved of a bonus to the staff of 7% per cent on salaries. A similar payment was made last year.

The total dividend distribution will be the same as last year, namely. £574.218 15/j_ made up aji follow:—Ordinary shares, £3io.000; I) mortgage shares (TVi per cent). £35,156 5/; A preference shares, £50,000; (J mortgage shares. £14.002 10/; B preference shares, £100,000. The Government receives the distribution on the three last issues, a total amount of £164,062 10/.

An ordinary dividend of 10 per cent lias been maintained by the bank since 1934.

MUCH BETTER YEAR

SELFRIDGES, XEW ZEALAND. The fact that Selfridgee (New Zealand), Limited, have made a net profit of £1886 for the year ended January 31, means that they are £12,300 better off than at this time last 3'ear, when the year ended with a net loss of £10,415. Thie result, hae been attained despite a smaller turnover, due to import control. On tlae liabilities eide of the balancesheet, called-up capital is shown at £157,773. Sundry creditors and accrued charges are shown at £7870. On the assets side two notable features are the lower valuation for stock and the appearance of a substantial sum in the bank. The report , of the chairman of directors, Mr. J. W. Austin, in this regard, says that stocks have been reduced from £48.367 as at January 31, 1939. to £24,527 at the same date this year, with the net result that the company's overdraft: of £18,593 in January. 1939, was converted to a credit balan-e of £11,634 for this year. GOLDEN SANDS TRADING. For the year ended March 31. Golden Sand.--, Limited (West Coast), made a profit of £2127. compared with £528 in the previous year. An interim dividend of 2d a share was decided on as the entire dividend for the year. Gold proceeds, after allowing for export tax and special war tax, amounted to £4870. NEW ZEALAND-MALAY RUBBER. (By Telegraph.—Own Correspondent.) WELLINGTON, this day. The directors of New Zealand-Malay Rubber have decided to pay a dividend of 4 per cent on all shares, both preference and ordinary. It is payable on May 8. NATIONAL BANK OF A'ASIA. (By Telegraph.—Own Correspondent.) WELLINGTON, this day. The directors of the National Bank of Australasia have decided that, subject to audit, they will recommend a dividend of 6 per cent per annum of both classes of shares for the half-year ended March 31.