N.Z. NEWSPAPERS.

Auckland Star, 12 May 1941, Page 3

N.Z. NEWSPAPERS.

REDUCED NET PROFIT.

DIVIDEND MAINTAINED.

COMPARATIVE FIGURES,

Net earnings totalling £41,425, a decrease of £3610 on those last year, are shown in the annual accounts of New Zealand Newspapers, Limited, which will be presented to shareholders at the annual meeting on May 21. In 1939 the net profit was £30,566. The balance brought forward from 1940. after payment of the final dividend is £44,139 which, added to the net profit, makes £85,564. The payment of an interim dividend of 8d a share in October, 1940, absorbed £19,917. leaving an available surplus of £G5,647. From this amount the directors recommend payment of a final dividend for the year of 8d a share which, with the interim dividend, makes a total distribution of 1/4 a share, the same as last year. This will require another £19,917, leaving £45,731 to be carried forward. The retiring directors, Mr. Edward Anderson and Mr. W. H. E. Flint, are eligible and offer themselves for re-election. Profits and Dividends Paid. The following table shows the net profits and the payment in dividends of the company since its establishment:— Net profits. Dlv. payment. £ £ 1930 54.710 40,775 1931 45,550 34.950 1932 34.909 29.125 1933 31,607 29.125 1934 38,723 29,125 1935 39,886 28,125 1936 47.695 36.850 1937 48.006 37,344 1938 49,003 39.833 1939 50.566 39,833 1940 45.035 38,833 1941 41,425 39,833 A gross profit of £154,969 is shown in the profit and loss account, compared with £164.977 last year and £138,378 in 1939. Expenses amounted to £120,012, against £126,162 the previous year, and £91,224 the year before that. Taxation absorbed £85,547, compared with £96,001 last year. Depreciation, discount and bad debts are set at £34,465, an increase of £4304. Balance-sheets Compared. Appended are the principal items taken from the balance-sheets of the past three years:— LIABILITIES. Mar. 31, Mar. 31. Mar. 31, 1938. 1940. 1941. £ £ £ Paid capital 497.917 497.917 497.917 Reserve 85.000 85.000 85.000 Machinery obsolescence . 20.000 20.000 20,000 Sundry liabilities, including taxation reserve 70.344 119,516 103,630 ASSETS. Land and buildings . . 169.920 168.293 165.423 Machinery and plant .. 126.125 113.739 102.551 Stock 82,120 °117.971 129.415 Copyright, etc 120.000 120.001 \-v\.nni\ Sundry debtor! 60.812 56.«69 51.569 Investments 119.409 169,1bii Ui,.U4 Shares In subsidiary 19,000 19.000 19.000 Cash 34.717 32,860 46.441 Total assets 733.113 786,488 773,194 •Less stock reserve.