PROFIT UNCHANGED

Auckland Star, Volume LXXVI, Issue 146, 22 June 1945, Page 3

PROFIT UNCHANGED

NORTHERN STEAMSHIP CO., LTD.

In their accounts for the year ended March 31, the Northern Stearrfship Co., Ltd. disclose a net profit of £5G56, almost the same as last year, and comparing with £0067 in 1943. The result, which is reached after providing for depreciation, insurance, repairs, and maintenance and taxation, is just sufficient to cover the unchanged dividend of 5 per cent, which absorbs £5650, leaving £1634 to be carried forward, against £1629 brought '"'Results of the past three years are:— 1943 1944 1945 £ £ £ Brought forward .... 1.2 M 1.626 1.629 Net profit 5,653 M» 7.276 7.279 7.285 Dividend, p.e 5 5 6 Amount 5.850 5.650 5.658 Carried forward 1,629 1,634 Principal balance-sheet variations ere Sβ follows: Liabilities Variation £ £ Paid capital 113.010 Same Reserves 20,058 Same Dep. of subsidiaries 8,452 +1,214 Creditors (Including taxes) 13,754 —11.910 P. and Ij. Acct 7,284 +5 Assets Vessels, wharves, etc. ... 45,996 —3,765 Premises 6,926 —265 Total investments 46,322 + 7 .? 00 , Coal and stores 1,882 +1,445 Debtors 25,514 —1.694 cash ..:::... 35.286 —14.171 The balancing total Is £10,633 lower at £162,698. The retiring directors, who are eligible for re-election, are Sir Ernest Davis and Mr. E. Anderson.