NATIONAL TIMBER

Auckland Star, Volume LXXIII, Issue 106, 7 May 1942, Page 3

NATIONAL TIMBER

IMPROVEMENT IX PROFIT A net profit of 18, compared wifli £2N20 last year and £8107 in 1940, is shown in the acounts of the National Timber Company, Limited, for the year ended March 31. The directors are recommending a dividend of li per cent, making with the interim dividend paid in November, 4 per cent for the year, against 2 per cent last year, when there was no final dividend. The report states that at both mill and bush there were increasing difficulties in securing adequate labour. The shortage of transport had made delivery difficult. As a result timber sold was reduced in quantity, but. due to a better grade of logs, the net return showed an increase. Almost all the output was now being used for Government requirements for war purposes. To help meet the demand the mill was running on a 48-hour week. In addition to road supplies, logging operations continued at the railhead, but it was anticipated this would be cut out by the end of the year.

Dividend takes £1750, and taxation £2679 against £2034 last year, the latter including £965 additional levy on account of 1940. Gross profit was £9412 against £7665. and expenses absorbed £3777 compared with £4324.