BERLE LIMITED

Evening Post, Volume CX, Issue 49, 26 August 1930, Page 12

BERLE LIMITED

, Jireetors of Berlei, Ltd., corset and Uttassiere manufacturers. Sydney, for the year ended 30th June, 1930, report a net Jpi-ofit of. £23,001 us 4d, less £3,733 15s 7d paid in taxation, leaving £19,207 9s 9d. To .tfiiis is added £1291 9s Id, balance brought forward from last year, making £29,558 18s lOd. From this sum was deducted £5703 8s '4d profit:sharing dividends of staff, ■leaving £14,855 10s 6d, out' of which. £500 i? carried to bad debts reserve. From the balance £14,355 10s 6d, interim dividends Sot' 4 per cent, on preference and 5 per cent, on ordinary shares absorbed £7951 7s Sd, leaving £6404 2s 10d for appropriation. The directors recommend final dividends of 4 per cent, on preference and 2V2 j>er cent, on ordinary shares, payable. Ist September and requiring £5120 6s 6d, leaving a. carry-forward of £1283 16s 4d. .Ordinary shares last year received 10 per <:'ent. The company's subsidiaries are Berlei (U.K.), Ltd., London; Berlei Proprietary, Ltd., Melbourne; Berlei (N.Z.), Ltd.,-Auckland;- Laddaloe, Ltd., Sydney; and branches in Brisbane, Adelaide, and Perth.

The parent company reports that although business in Australia suffered to tome estent by prevailing economic conditions, the- effect Had been mitigated by the goodwill attached to its products, publicity, and appreciation of service. The game, conditions applied to the Melbourne subsidiary, though profits earned had enabled the company to declare a satisfactory dividend. There was a substantial increase in the sales of the New Zealand subsidiary, and the usual 10 per tent, dividend was paid. Dividends from the Victorian and New Zealand companies declared since the closing of accounts amounted to £7152. Berlei (U.K.), Ltd., London, was registered in February last; production is proceeding smoothy and increasing at the factory at Slough. Garments are beginning to appear in Marshall and Snellgrove, John Barker's, and Peter Hobinson's, London, and there is a Berlei salon in Bond street. Laddaloc, Ltd. (late Ladderproof Textiles, Ltd.) reports increased sales, but difficulties in production resulting 'in loss. Demand is increasing, and fabric is now greatly improved, but buying restrictions are retarding progress.