CARLTON BREWERY

Dominion, Volume 30, Issue 130, 26 February 1937, Page 14

CARLTON BREWERY

Increase in Net Profit

Accounts of Carlton Brewery, Ltd., for the year ended December 31 disclose a profit of £104,600, or 12.8 per cent, on capital, compared with £87,800 in 1935. The dividend rate has been raised from 10 per cent, to 12 per cent., requiring £95,000. Carlton Brewery arid its subsidiary, the Victoria Brewery, together own a 32 per cent, interest in Carlton and United Breweries, and it is mainly owing to the increased amount being distributed annually by the operating company that the profits of Carlton Brewery are larger. Profits and distributions for four years are as follows

1933. 1934. 1935. 1936. £ £ £ £ Profits . 73,800 74,030 87.580 104,600 Dividends (15,300 73,530 81,700 98,000 Per cent. 8 9 , 10 12

A yield of 3.0 per cent, is returned to the investor at the current quotation of 60/- on the Stock Exchange. The following balance-sheet comparison shows that assets other than shares held in the operating company have increased by approximately £lB,OOO, and undivided profits are larger by nearly

£17,000 1034. 1935. 1936. ASSETS— £ £ £ 17,900 7,700 11,300 Mortgages, etc. . 210,200 237,900 252,500 Brewery, etc. .. 150.200 150,100 150,100 90,100 119,100 119,100 Shares in C and U.B 631,700 631,700 631,700 Total 1,139,100 1,146.500 1,164,700 103-1 1935. 1936. £ 4’ LIABILITIESCreditors, etc. 29,900 ’>1,150 32,500 n ji i t n 1 817,000 817,000 S17.000 Undivided profits 292,100 298,300 315,200