COMPANY NEWS
N.Z. AND AUSTRALIAN LAND ACCOUNTS FOR THE YEAR In his review of the accounts of the New Zealand and Australian Land Company, Ltd- for the last year, the chairman of directors, Mr G. S. Tullis, said that the company had enjoyed & successful year and, in spite of the reduction in station assets, again showed a sub. stantial improvement In net profit. This increase was mainly the result of the higher prices obtained for wool and livestock. The profit and loss account shows that the profit from working the company’s properties was £371,729, and the income from investments £16,241, making the gross total £387,970. Expenses of management absorbed £39,364, taxation £92,384, provision for deferred repairs £12,500, and taxation reserve £135,600. The amount brought forward from last year was £20,210, making the amount available for distribution £127,542. After deducting £30,250 covering dividends already paid, there was a balance of £97.292, which the directors recommend should be applied as follows:—final dividend of 3 per cent, (less income tax), making 5 per cent, for the year, on ordinary stock, bayable December 22, £24,750, leaving a balance of £72,542 to be carried forw'ard. The annual meeting of the company will be held in Edinburgh on December 21.
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Bibliographic details
Press, Volume LXXXIV, Issue 25677, 14 December 1948, Page 6
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204COMPANY NEWS Press, Volume LXXXIV, Issue 25677, 14 December 1948, Page 6
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