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BAY OF PLENTY COMPANY HIGHER BUTTER OUTPUT Butter manufactured by the Bay of Plenty Co-operative Dairy Association, Limited, for the year ended June 30 last totalled 31551 tons, compared with 2817 tons for the previous season, an increase of 338J tons. The number of suppliers was unchanged at 409. The sum of £349,196 has been advanced against butterfat supplied, representing an average payment over all grades of 14.426 d. The amount to credit of profit and loss appropriation account is £62,028. It is proposed to apply this as follows:—(1) To pay 5 per cent interest on share capital, absorbing £1064; (2) to transfer to reserve account the stores profit for the year amounting to £1047 less taxes; (3) to transfer to taxation reserve £450, being provision for income tax and security taxes pn the company's taxable income for the year other than stores profit; (4) to transfer to reserve account the balance of profit and loss appropriation account carried forward from the 1943-44 season—£346; (5) to pay out the balance at the rate of 2.44 d per lb butterfat. This will make an average payment of 16.866 d butterfat over all grades for the whole season.

The dividend on shares represents ,044 d, making the net payment 16.910 d and with cream cartage added .409 d, and stock supervision .024 d, equivalent to 17.343 d over all grades of butterfat. The farm costs allowance of 2.851 d average payment per lb butterfat, amounting to £69,022 for the year was included in monthly advances, but was not included in advances to suppliers. The estimated average payment last year, exclusive of cartage and interest was 16.814 d per lb. This figure was sustained. The trading department , showed .an increase, sales being £85,963 co'mpared with £71,158 last year.

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Bibliographic details

DAIRY SEASON, Auckland Star, Volume LXXVI, Issue 192, 15 August 1945

Word Count

DAIRY SEASON Auckland Star, Volume LXXVI, Issue 192, 15 August 1945

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