WILCOX MOFFLIN, LTD.

Auckland Star, Volume LXXI, Issue 228, 25 September 1940, Page 4

WILCOX MOFFLIN, LTD.

IMPROVED RESULTS SHOWN. Trading results of Wllcox Mofflin. Limited, Sydney, tor the last three years show rapid improvement. After providing £24,007 for taxation, net profit for the year ended June 30 increased to £33,552 from £4120 for 1938-39, which had followed a loss of £91,391 in 1937-38. The dividend of 1/6 per share (13.63 per cent) requires £30,000. It is proposed to re-establish a reserve fund with a transfer of £10,000, leaving £1353 to carry forward, against £7806 brought forward. The directors report that the company, when holding normal stocks at the outbreak of war, benefited by the subsequent general rise in prices. The acquisition, by the Government, at fixed prices, of some commodities handled by the company enabled steady trading in those lines for which the Government provided certain markets. This in large measure added to the year's successful result. With European supplies of fur skins, particularly rabbit and hare skins, cut off, American demand for Australian skins has been better than usual. "A rare opportunity exists," the report in these lines, as well as other products, and it is hoped that the Government will afford every encouragement to exporters by removing some of the present irksome restrictions to freer trading, thus increasing exports to America and benefiting the dollar exchange situation."