BROKEN HILL.
The directors of Broken Hill Proprietary write that reduced net profit of £222,617 for the. past year, after allowing for total depreciations of £319,058, was due to a number of causes, the principal of which was slackness of orders during the last six months of the period. This was combined with cessation of work at Broken Hill, cost of the Family Endowment Act during the three months of its existence, and effect of the increased rail freight on coal. Dividends at the rate of 10 per cent, were paid, absorbing £2158,771, or £46,154. more than the year's profit. After providing for outstanding liabilities, there remain liquid assets of £848,685, exclusive of interest in other companies, amounting to £560,974, but including reserve and iunurance funds. o.'his compares with surplus liquid assets over liabilities of £1,285,919 a year earlier. Output for the year amounted to 333,308 tons of pig-iron, 350,389 tons of steel ingots, and 311,666 tons of coke. During the period the price of lead fell to such an extent that it was found to be unprofitable to work the mine at Broken Hill. It would be possible, however, tho directors state, with a readjustment of labour conditions,, to resume operations and afford employment tt a krge number of men'i. . i
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19280830.2.110.4
Bibliographic details
Evening Post, Volume CVI, Issue 44, 30 August 1928, Page 16
Word Count
212BROKEN HILL. Evening Post, Volume CVI, Issue 44, 30 August 1928, Page 16
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in