LOWER NET PROFIT

Dominion, Volume 30, Issue 23, 22 October 1936, Page 14

LOWER NET PROFIT

Amalgamated Wireless, Ltd.

DIVIDEND UNCHANGED Amalagamated Wireless,. Ltd., reports a net profit of £109,701 for the year ended June 30, compared with £119,824 the previous year, and £137,934 for 1933-34. Gross profit increased from £545,431 to £579.245, but au increase in expenditure reduced the net profit. The distribution, however, is increased to 11 per cent, by the addition of a bonus dividend of _1 per cent. The dividends require £Bl-871 ; a sum of £30.000 is transferred to reserve, and £34.788 is carried forward against £36.958 brought forward.

The directors state that the beam service has continued to carry the greater proportion of the telegraph business between Australia aud Great Britain, and a satisfactory proportion of the business between North America and Australia. The photo-telegram service has been extended via London to the United States and to Germany. The public use of this service is increasing for both business and social purposes. The principal extensions during the year, via London, include South Africa, (he Irish Free State, India, and South America.

The 60,000-watt broadcasting station for the National Broadcasting Service, New Zealand, which will be the largest in the Southern Hemisphere, has been comWellington for installation. The number pleted, and will shortly be dispatched to of broadcast receivers manufactured constitutes a new high record. Having completed the order for combination hand-set telephones for the Australian Post Office, the company is now manufacturing a further 30,000 in fulfilment of an additioual order received from the department. These increased activities necessitated extensions to the accommodation at Ashfield works, and the business in hand and anticipated orders for next season point to the probability of further extensions becoming necessary. During the year, the company and its subsidiaries employed over 2000 people and salaries and wages paid exceeded £400,060.

Year ended .1 nne 30. 1934. 1933. 193.6. £ .£ Gross profits 562.401 545,431 579,245 Expenses 424,4(17 425,607 469,544 Net profit 137.1X34 119.S24 109,701 Dividend, per eent. 10 10 *11 Dividend, amount . 74,42$ 4 4.4 2<S 81,871 30,000 To reserve 30.000 30.000 To staff fund 5.000 15.000 — Forward 36,.>62 36,95$ 34.7SS LIABILITIES— Ca-pital 744,282 744.282 741.282 Creditors 284.916 230,838 240.2S7 Reserves for palents, depreciation, etc. 28vS,2«j9 327.301 '.<1.9, 4 1 < General reserve ... 120.000 150.000 180.000 ASSETS— Land & buildings 200,099 207,650 '-'77,571 Benin service— Plant 169.547 170,265 171,495 Buildings 99,o27 99.527 99,671 Research and establisbmenr .... 49.067 49.067 49.067 Other wireless stations. plant, stock, etc 393,027 478,245 563.949 Patent, rights .... 93,000 93.000 93,000 Casli 305,778 194,351 71,977 Sundrv debtors ... 181.210 223.228 259,038 Investment 62,419 63,701 (m,o8u •Includes bonus dividend 1 1 per cent.