AUSTRALIAN ITEMS
A loss of £5607 incurred by Asbestos Products, Limited, of Sydney, for the year to June 30, after allowing £1234 for depreciation, increases the debit balance to £18,125. It compares with losses of £360 for 1939-40 and £8739 for 1938-39. Four years' preference dividend arrears amount to £4200. The directors report that the year's loss was caused by increases in costs of labour and imported raw materials without any increase in selling prices. A proposal for financing future operations has been ratified by 86 per cent of each class of shareholders. Clifford Love, Limited, foodstuffs manufacturers, of Sydney, shows for the year to September 30 a profit of £22.574, a decrease of £5338. Profit is struck after providing £25,000 for taxation, an increase of £8500, and £12,233 for depreciation, a decrease of £898. Unchanged dividend of 10 per cent requires £22.188. and £3000 is allocated to reserve, leaving £14,408 to carry forward, against £17,022 brought in.
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https://paperspast.natlib.govt.nz/newspapers/AS19411118.2.11.16
Bibliographic details
Auckland Star, Volume LXXII, Issue 273, 18 November 1941, Page 3
Word Count
158AUSTRALIAN ITEMS Auckland Star, Volume LXXII, Issue 273, 18 November 1941, Page 3
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Acknowledgements
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