FAIRYMEAD SUGAR
Profit Rises By 60 p.c.
The net profit of Fairymead Sugar Company, Ltd. jumped by £109,758, or 60 per cent., to a peak £289,844 for the year ended December 31. In the previous year profit had fallen by £29,919. An amount of £336.121 has been written back from “hidden reserves." Reserves and undistributed profits rise from £1,174,488 to £1,589.636. while shareholders’ funds rise from £2.674.488 to £3,089,636. The latest result is after tax £145,000 (not disclosed previously) and depreciation £91,158, (up £8713). Dividend Raised
The dividend, raised from 8 to 10 per cent., requires £150.000 (up £30.000).
Earning rate on capital moves up from 12 to 19.2 per cent. Deficit on sale of assets is £517 The chairman, Mr C. A. N Young, savs in the annual report that well-distributed rainfall resulted in a record crop of 393406 tons for 1962 (up £105.534) from which 56.584 tons (up 17.496) of sugar—was manufactured in less than 22 weeks. Prospects for 1963, following good rains, promise a similar crop. There will be even less difficulty in handling the crop because of the installation of equipment designed to re, move certain restrictions in the factory, Mr Young says.
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Bibliographic details
Press, Volume CII, Issue 30154, 11 June 1963, Page 17
Word Count
197FAIRYMEAD SUGAR Press, Volume CII, Issue 30154, 11 June 1963, Page 17
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