WESTLAND POWER, LIMITED

Evening Post, Volume CIX, Issue 125, 29 May 1930, Page 12

WESTLAND POWER, LIMITED

Directors of Westland Power, Ltd.,'-.re- ' port that development of the company's undertaking has ■ progressed favourably, and the auxiliary plant and main plant have been working satisfactorily. Accounts, which cover a period of 14 months, From Ist November, 1928, to 31st December, 1929, disclose a net profit of £357 Is lid (subject to income tax), which is considered- satisfactory in view of the fact that the company is only in its second year of operation. Daring the period under review, further reticulation has taken place, and a number of new consumers have been connected up. Additions and improvements have been made to the water races and the reservoirs, and the main station at Dillmans has been completed. A standby plant, equipped with Diesel engines, is now in course of erection. Total increase in capital expenditure has been £16,277 6s 2d, . and the fixed assets now stand at £57,344 12s 2d. Paid-up capital . has increased by £5392 7s, and further accommodation has been secured from the company's bankers to the extent of £ 10,315 3s Id. The company is now in a position to supply power up to a capacity of 820 k.w., and negotiations are taking-place with further prospective cceißumers.. When the balance of power is arranged the revenue receivable should enable a satisfactory return to be made on'capital outlay. The annual bal-ance-sheet and accounts can be seen by shareholders at-the office of the company. MeasrsL Kirkcaldie (chairman) and H. G. Williams, directors, offer themselves for re-electipn. Messrs. Watkins, Hull, Hunt, and Wheeler, auditors, also offer themselves for re-election.