TRADE REVIVAL

Evening Post, Volume CXVI, Issue 146, 18 December 1933, Page 12

TRADE REVIVAL

AUSTRALIAN EVIDENCES

Australian companies' balance-sheets' in a number of cases indicate a decided improvement in returns, but the evidence is insufficient at present to say that recovery in trade is definitely assured. However, there is no doubt of improvement in many directions. For instance, the old-established Jlelbourne drapery and fashion house of Buckley , and Nunu, reports a substantial improvement in results for the year ended July 24. Net profits amounted to £30,532, compared, with £18,506 for the preceding twelve months, and a loss of £24,622 for the 1931 term. AVith £8006 brought forward, the amount available for distribution is £38,538. The payment of the 7 per cent, cumulative preference dividend requires £10,500, and an ordinary dividend of 6 per cent, for the year takes £19,442, leaving £8595 to be carried forward. Last year no distribution was made on ordinary shares, and in 1931 the return was 2% per cent. • ' . Carlton Hotel, Ltd., Sydney, discloses a net profit of £8053, as against £4169 for the previous year. AH arrears of preference dividends for four years to October 31 last, less statutory exemption of 22',_ per cent, and less Federal property tax, are recommended for payment in the amount of £5229, and a dividend of 7 per cent, i'or the year ended October 31 last on ordinary shares, amounting to £4200. After taking account of £22,571 brought forward, there remains £21,195, which is carried forward. Gross receipts amounted to £39,983, an increase of £4383. The directors report that business is still improving, and they are of opinion that the indications are for still better business in the present year. Mr, A. J. AVarry, chairman of the British Tobacco Co. (Australia), Ltd., in dealing with the balance-sheet for the past year, drew shareholders', attention to the item, debtors and debit balances. This item showed a decrease of £6526. he said, which represented repayments by the | subsidiary companies. Jlr. AVarry also I said that there were now definite signs of (increased purchasing power by the public. I With a continuance of svise legislation and i reduced taxation, the companies would, |he hoped, share in and benefit by the [improved conditions.