LICENSING TRUST PROFITS
£5OOO TO BE GIVEN TO PUBLIC PROJECTS
TURNOVER OF £396,000 IN INVERCARGILL
(New Zealand Press Association) INVERCARGILL. ’ June 1.
The Invercargill Licensing Trust will distribute £5OOO of its net profits for the last year to various cultural, social, and -sporting interests • in the city. This was decided to-day at the annual meeting of the trust. It was reported that the turnover or the year was £3 6.771. an increase of £36.161 on the previous year. The net profit for the year was £58.280, compared with £34,216 in the previous year.
The chairman (Mr Hugh Ritchie) said that the year had been successful from all points of view. The distribution of £5OOO in the city would be the second biggest in the trust’s six years’ history. In 1946. £6050 was returned to the citizens.
A total of £18.941 had been distributed since 1945, and in that period the total turnover had been £1,816.618. The general reserve amounted to £41,102,
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Bibliographic details
Press, Volume LXXXVI, Issue 26128, 2 June 1950, Page 6
Word Count
161LICENSING TRUST PROFITS Press, Volume LXXXVI, Issue 26128, 2 June 1950, Page 6
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