ICE CREAM PROFITS

Evening Post, Volume CXIII, Issue 141, 16 June 1932, Page 14

ICE CREAM PROFITS

Robinson.lee Cream Co., Ltd., Auckland, reports a ssatisfaetory year. The gross profit -for- the twelve' months ended on 30th April, £10,486, was 45 per cent, of. total, sales; Allowance for depreciation was £3632, which was £1433.m0re than last year, _ but it was felt this was necessary'in view,of the present unfavourable trade conditions^ It was hoped to pass the winter season without the need for a bank'ovei'draft. ' ' .•■ •■

•The first annual meeting of shareholders in the Peters Ice Cream Co. (N.Z.); Ltd., was held in Auckland on Tuesday, Mr. J. A., Gentles .presiding. The annual report steed that the profit on the year, after making full provision for depreciation and writing off preliminary expenses, amounted to £824. Prom this it was recommended that a dividend at the rate of 8 per cent, per" annum be paid on shares from date of allotment, absorbing £385; honoraria/to directors, £120; and to carry forward' £320.. The "report was adopted. The balance-sheet'shows' a nominal capi-tal-of £10,000, with £8525 issued and paid up, . .., , ■■-.. .:, ....-■ .';... , : .