AUSTRALIAN ITEMS

Auckland Star, Volume LXXII, Issue 206, 1 September 1941, Page 3

AUSTRALIAN ITEMS

A sharp Increase In profit from £31.717 to £131.657 Is shown for the year ended April 30 by Associated Pulp and Paper Mills, Limited. Latest profit is struck after providing £61.750 for depreciation and £60.000 for taxation. With the previous year's profit of £31,717, £163.374 was available. Three dividends of 3 per cent paid in the year took £97,327; £31.150 is appropriated to a reserve against high-priced stocks purchased during the war; £20.730 written off losses to April 30, 1939; and £11.006 written off preliminary expenses, leaving £3161 to be carried forward. The acting-chairman, Mr. H. St. John Somex*set. said at the annual meeting in Melbourne on Friday, that from the outbreak of war to the end of July the company had sold In Australia more than 35.000 tons of paper products of a value of £1,500,000. If it had been necessary to import this quantity from the United Kingdom the cost to the consumer would have been more than double the amount.

Lipton, Limited, a subsidiary of Home and Colonial Stores. Limited, of London, incurred a loss of £20,417 for the year ended January 4, against profit of £83.830 in previous year. Deficiency was arrived at after providing £135.300 for excess profits tax and £ 13.500 income tax. Felt and Textiles of Australia. Limited, has declared a final dividend on ordinary shares of 5 per cent, making 10 per cent, unchanged, for the year, half payable from ex-Australian income. and on first preference. 3 per cent, making 6 per cent unchanged. The dividends are payable on October 1.