BYCROFT LTD. PROFIT

Auckland Star, Volume LXXIV, Issue 107, 7 May 1943, Page 5

BYCROFT LTD. PROFIT

J SMALL rise on last year A net profit of £14,029, after providing I for taxation, depreciation and bad debts, is shown in the accounts of Bycroft, Ltd., for the year ended March 31. This compares with £13,878 last year and £12,087 in 1941. Gross profit at £166,868 is another record, comparing with £132,856 last year. The final dividend, already announced, of 4 per cent, making 8 per cent for the year, unchanged, will require £6000. In their report the directors stated that although staff and plant had been worked long hours, at times to maximum capacity, provision for taxation made it clear that little of this extra effort accrued to shareholders' funds. Appreciation was expressed of the forebearance and co-operation of the company's business clientele as well as the general public during these years when, due to army requirements, very little biscuit production had been available for domestic consumption. The retiring director, Mr. Edward Anderson, is available for re-election. In the balance-sheet creditors, including taxation. total £150,598. compared with £106,194 last .year. Among assets debtors are £37,430, a reduction of £9681. but investments have risen £20,377 to £32,407. Cash on deposit is up £20,000 at £35,000, while stocks are £ 145,744, an inci-ease of £29,644. The balancing total is £382,557, against £334,202 in 1942.