MERCANTILE FINANCE
The annual report of the Mercantile Finance Corporation, Ltd., Christchurch, for the year ended 30th June last, shows a turnover considerably in excess of last year's figures; but available funds are still not sufficient to cope with business offering. Net surplus shows 100 per cent, increase on figures of last year. Profit for the year was £2799 17s 3d; from this £2500 has been written off, against bad debts. Directors regret they are unable to recommend a dividend to ordinary shareholders. ' • ' Including the balance brought forward from last year, the net credit to profit and loss account is £335 10s 4d. A dividend has been paid to 31st March on preference shares at 7 per cent, per annum, amounting to £206 Is 3d, leaving available £129 9s Id, out of which directors recommend provision to be made for three months' accrued dividend on preference shares, £68 13s 9d, and to carry forward £60 15s 4d. Full reserve for immatured interest has-been carried forward to next year's accounts. ■ Directors have again drawn no fees.
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Evening Post, Volume CX, Issue 47, 23 August 1930, Page 12
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175MERCANTILE FINANCE Evening Post, Volume CX, Issue 47, 23 August 1930, Page 12
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