K.D.V. BOXES PROFIT

Auckland Star, Volume LXXV, Issue 181, 2 August 1944, Page 3

K.D.V. BOXES PROFIT

The accounts of K.D.V. Boxes, Ltd., for the vear ended June 30, show a net profit of £4178, compared with £4296 last year and £3558 in 1942. As previously announced, a final dividend of 4 per cent is proposed, making 7 per cent for the year, unchanged. This absorbs £2-67, leaving £4830 to be carried forward, against £4118 brought forward. "Despite the fact that the sas shortage interfered seriously with, the operations of some of our larger customers and thus reduced drastically their requirements of boxes, new business has materially assisted in maintaining sales at a high level, though not so high as last year, which was a record," says the report. The margin of profits, however, has been good on the reduced turnover of £152,177, being £ 14,230. Owing to the high Incidence of taxation, the reduced profits did not materially affect the position regarding net profits." Turnover last year was £179,430. Taxation amounted to £10,052, against £10,225 In 1943. , { Main balance-sheet items, with last year s in parentheses, are: Liabilities: Creditors, £4466 (£6577); tax reserve, £10,809 (£16.308). Assets: Lands, buildings, plant, £22.607 (£26.310); loans, £2802 (£2922): stocks, £34.726 (£27.930): debtors, £11,879 (£13.717): cash. £6350 (£14,383). The director to retire by rotation and eligible for reelection Is Dr. A. T. Begg.