COMPANY NEWS

Press, Volume LXXXVI, Issue 26264, 8 November 1950, Page 9

COMPANY NEWS

TUI BREWERY’S REDUCED EARNINGS Net profit of the Tui Brewery, Ltd., for the vear ended August 31, 1950, was £7587 against £9149 the previous year. Depreciation took £2142 (£2364 in the previous year) and taxation £7365 (£11,417). Dividend is cut from the 10 per cent, which has been paid for the last three years to 61 per cent, (final 3j per cent.), and requires £6098 (£9757 the previous year). A sum of £1274, representing profits from transactions in shares held in other companies. is transferred to general reserve. Carry forward is £BOB7, against £7873 brought in. "Further very heavy increases in the cost of materials and in other expenses without as yet any compensating increase in our selling prices, are matters which are now being given attention by the directors and by the brewing industry in general,” states the annual report.

Wattle Canneries. —This company recommends ’an annual dividend of 7 per cent. (6 per cent, last year), payable November 20—ex November 20.—(P.A.) North Broken Hill.—North Broken Hill, Ltd., announces a half-yearly dividend of 3s 3d a share, compared with 4s a share for the corresponding period of last year. The company exported 77 per cent, of its lead production last year and 82 per cent, of its exports went to the United Kingdom. At the annual meeting at Melbourne last week, the chairman, Mr M. H. Baillieu, said that the lead supplied to Australian industry by the Broken Hill companies should be ample for requirements, if scrap lead wa§ recovered and used.— (P.A.) Queensland Insurance.—Directors of Queensland Insurance Company, Ltd., have recommended to shareholders an increase in capital to £2 000,000 by the creation of 1,000,000 new ordinary shares of £1 each. If the proposal is approved it is proposed to issue 750,000 •’shares in the proportion for one for one held. Applications will close on March 31 next, 5s to be paid on application, and 5s six months later, the remaining 10s to be called up as and when required. Shares will become ex rights on January 31 next. Toohey’s New Issue—Tooheys, Ltd., brewers, Sydney, advise that the directors have authorised issue of 433,125 shares of 16s each at a premium of 10s in the proportion of one for five held. • The new shares are payable in four equal instalments of 6s 6d each (4s capital, 2s 6d premium), first payment being on application on or before January 31, and the oth’er instalments as and when called on at intervals of not less than six months. Shares become ex rights on January 15. North Broken Interim.—North' Broken Hill, Ltd., has announced a half-yearly dividend of 3s 6d, Australian currency, a share, or 70 per cent., payable in December. The dividend compares with a distribution of 4s a share, or 80 per cent., for the corresponding period last year. At the annual meeting in Melbourne on Friday. the chairman of directors. Mr M. H. Baillieu, said that lead supplied to the Australian industry by the Broken Hill group of companies should be ample for the country’s requirements, provided that scrap lead was recovered and used. During the year ended June 30, North’ Broken Hill, Ltd., had exported 77 per cent, of its production. Of the amount exported. 82 per cent, was sent to the United Kingdom.