J. C. WILLIAMSON, LTD.

Evening Post, Volume CXIX, Issue 23, 28 January 1935, Page 12

J. C. WILLIAMSON, LTD.

J C. Williamson, Ltd., reports a not profit of £9378 for the year ended June 30 last, compared with a- pront ot =&*>?" the previous year, and a loss of s*/?? lri 1931-32. The profit' reduces the debit at profit and loss to £43,234. The directors state that difficulties are still being experienced in.securing attractions from overseas, but that the outlook is now somewhat more hopeful. The full benefit of the case of the Sydney freehold and of the sale of the company's interest in the Theatre Royal, Melbourne, is now being obtained.- The assets of the company were consolidated during the year by obtaining the freehold title of the Regent Theatre, George Street, Sydney, subject to the existing mortgages, in lieu of shares in and advances made to a subsidiary company. The liquidation of the bank overdraft by a loan obtained on fixed mortgage also stabilised ' the ■ company^ finances. ; A capital reorganisation scheme has since been approved under which, among other things, the accumulated debit as at June 30,' 1934, is extinguished by a transfer from reserve, and the preference dividend has been reduced from B>per cent, to a fixed cumulative' rate of 6-per cent., with the right of participation up to 8 per cent.' when ordinary shares receive more ( than 6 per cent. The payment has been an-, nounced of a preference dividend at the. rate of 6 per cent, per annum for thei half-year ended December 31.