BRIGHT OUTLOOK.

Auckland Star, Volume LXXI, Issue 200, 23 August 1940, Page 4

BRIGHT OUTLOOK.

RADIO COMPANY'S AFFAIRS. LARGE SUM IN TAXATION. "As to the future I can only eay that eubject to world conditions and the supply of raw materials I am confident of continuous satisfactory result*." That was the optimistic note struck by Mr. W. J. Truscott, chairman of directors of Radio (1936), Limited, at the annual meeting held to-day when he reviewed the company's successful year, and the report and ijalance-eheet, as already published, were adopted. "Aβ a matter of interest to shareholder*, I would mention that during the financial year under review we have provided continuous employment for an average of 200 persons, who have received in wages and salaries a sum approximating £750 weekly, and in addition, of course, we have been responsible indirectly for the payment of wages by many other local manufacturers from whom we are purchasing materials and parts," said Mr. Truscott. "To the Government in taxation and duties, mainly in income tax, social and national security charges, we will pay £12,150. Although such payment represents a fairly big percentage of both gross and net profits of the company, subject to shareholders receiving a reasonable return from the money they expended in the purchase of their interests—for it must be remembered that many shareholders are equally as dependent upon dividend payments are are workmen upon wages— I do not think that any complaint is justified if such taxation is necessary and expended upon assisting New Zealand to do its full share in winning the war and in making provision for the rehabilitation period that might otherwise have many serious problems in store for everyone," he concluded. The payment of a dividend of 1/ per share was approved. Mr. L. J. Keys was re-elected to the directorate.