MARTHA GOLD MINE

Dominion, Volume 34, Issue 199, 20 May 1941, Page 3

MARTHA GOLD MINE

Net Profit Maintained A net profit of £62,200 was earned by Martha Gold Mining Company (Waihi), Limited, in 1940, according to details received by cablegram from London by the New Zealand director and attorney, Mr. J. H. G. Banks. As already announced a final dividend of 9d. sterling a share, making 25 per cent, (unchanged) for the year is recommended. The net profit is only £5O less than that earned a year ago. Dividend requirements absorb £61,989, leaving £5968 to be carried forward, against £5757 brought in. Results for the past three years are: — 1938. 1939. 1940.

Taxation, which includes income tax in London and New Zealand, shows an increase of £13,855. Production figures which were published earlier in the year showed that 191,359 tons were crushed for 50,0140 z. gold and 412,4330 z. silver, against 196,745 tons crushed in 1939 for 49,9800 z. gold and 384,89G0z. silver.

£ £ £ Gross prolit .. . 132,006 137,070 150,521 Taxation . . . . . 57,822 70,217 84,072 Depreciation . 4,842 4,603 4,249 Net profit . .. . 69,343 62,250 62,200 Brt. forward . . 10,539 5,496 5,757 79,882 67.746 67.957 Dividend, p.e. 30 Amount . .. 74,386 61,989 61,989 Car. forward 5,496 5,757 5,968