CARROLL MUSGROVE THEATRES

Evening Post, Issue 20, 23 July 1935, Page 12

CARROLL MUSGROVE THEATRES

Carroll Musgrove Theatres, Ltd., Sydney, reports a profit .of £7281, after transferring £2500 to depreciation reserve, for the year ended June 30. The previous year's net profit, after a similar transfer, was £8482. Dividends on the participating preference shares and on the deferred shares are maintained at 72 per cent. (10 per cent, less the statutory deduction), and altogether require £7750, leaving £515 to be carried forward, against £984 brought forward; The directors state that difficult trading conditions continued during the period under review. In the first half of the financial year the broadcasts of the Test cricket matches, the Federal elections, the Melbourne Centenary, the Koyal visit, and the London to Melbourne Air Hace provided intense opposition to all types of theatre business. •In comparing the results with those of the previous year, however, it must be remembered that the profit disclosed is after meeting unusually heavy expenditure on improvements and painting.