EVANS ATLAS YEAR

Press, Volume CI, Issue 29726, 20 January 1962, Page 15

EVANS ATLAS YEAR

Profit Steadv

Evans Atlas Roller Flour and Oatmeal Milling Company, Ltd., Timaru, made a net profit of £8561 in the 10 months to October 31, compared with £10,414 in the previous full year. On an annual basis the latest result represents a drop of 1.4 per cent, on the year before.

Depreciation is £l4 up at £5417, while provision for taxation is £8569 against £10,276 last year. Expenses are down from £57.834 last year to £51.496. Gross profit from trading account and storage charges is £74.460 (£84,255 last year). Carry-forward is £4061 up at £17,405. 6 p.c. Dividend

Interim 3 per cent, dividend paid last June took £2259, while the recommended 3 per cent, final dividend, unchanged on the previous full year, takes £2250. The balance sheet shows current liabilities as £87.877 against £39,616 the year before. This includes sundry creditors at £10.087 (up £5377), overdraft at £56,695 (up £41,973' and taxation account at £18.845 (up £922). Sundry debtors are £1579 higher at £19.840. stocks £54,004 up at £92.741. taking current assets to £112,626, against £57,043 the year before.

Among fixed assets, land and buildings stand at £80,120, after depreciation, compared with £Bl,BOl, plant and machinery £21,493. against £23,073. Total fixed assets are £101,613, £3261 down.

Directors say the company’s balance date was changed so that the annual accounts and arrangements for, the annual meeting could be completed before the start of the grain harvest.

Production At Mount Isa

Production of Mount Isa Mines, Ltd., Queensland, returned to almost normal levels in the latest four weeks to January 7.

The company treated 203,608 tons of ore an average throughput of 7541 tons a day when the Christmas Day shutdown is counted.

Treatment rate for the previous period following the resumption of operations on November 22 was 6789 tons a day.

Dispute The rate before the outbreak of the industrial dispute, which closed the mine on September 25, averaged about 7900 tons a day. In the latest four weeks, output was 3960 tons of lead bullion, 3534 tons of zinc concentrate and 3190 tons of blister copper. About 250 of the 3700 men employed by the company at Mount Isa before the industrial dispute have still not returned to work.