SHARLAND AND CO.

Press, Volume LXIV, Issue 136099, 25 April 1908, Page 10

SHARLAND AND CO.

(PHK.«S ASSOCIATION' TKLEORAM.) WELLINGTON, April 24. The directors of Sharland and Co., their ninth annual report, say:— '•Your directors, in presenting tho bal-ance-sheet and profit and loss statement for the yenr ended 29th February. 1!K)8, have much pleasure in reporting a lavourablo result. After making the usual full provision for had debts and depreciation of plant and fixtures, the net profits for tho year amounted to £'i>2oi) 2s .xl, in which has bewn add«l £61 Ss 8d carried forward from last year, making in all £0311 lls Id a.s per balance-sheet. From this sum the directors have takon £2000 for addition to tho reserve fund, making it up to £11,250. They recommend a dividend of 7J per cent, on all shares (on tho new shares according to the dates when instalments received), which will absorb £3337 lls, leaving £47-1 0s Id to bo carried forward to next year's account. The year's working again shows a substantial increase m the turnover of business, having regard to which tho increase in working expenses is not unduly high."