Company News ACCOUNTS OF C.S.R.

Press, Volume C, Issue 29556, 4 July 1961, Page 19

Company News ACCOUNTS OF C.S.R.

Group Assets £lllm (N.Z. Press Assn —Copi/rtght) SYDNEY. July 3. The Colonial Sugar Refining Company, Izd.'s first consolidated accounts, released today, place a value of £ 110.6 m on the total assets of the group. The parent company assets are shown at £96.2m against the £90.6m shown last year. The latest group assets figure includes £77m of fixed assets. £3.5m of investments. £ 16.6 m of stock and works in progress, and £ 12.5 m of debtors. Reserves of the group are shown at £ 35.6 m whereas last year the total was£2s3m. long-term liabilities total £7Bm, overseas exchange fluctuation account £l.2m, bank overdrafts £37m. and sundry creditors and provision £ 19,6 m. Overdraft Up The parent company overdraft last year was £413.545 and this year's is £l.7m. The gfl-oup profit of £2.617,735. previously an. nounced. is after £3.710.817 for replacement and depreciation and £2.086203 for taxation. Tn their report, the directors state that a heavy loss was incurred in Fiji, but it is expected that results for the current financial year will be better. The position and prospects, however, are still obscure. The company’s Australian mills produced slightly more sugar than in the previous season and showed improved results. Sales of refined sugar products in New Zealand showed an increase, but Australian sales were lower.