NEWTON KING, LTD.
PROSPECTS IMPROVED
Unless some unforeseen setback occurred, the directors of Newton King, Limited, stock and station agents, would soon be in a position to recommend some long-deferred distribution to shareholders, according to the view expressed by Mr. Truby King, chairman of directors, at the annual meeting of the company, held on Thursday. The general improvement in New Zealand economic conditions, he said, had been reflected in. the company's improved trading. Net profit had increased from £7361 in 1933-34 to £10,077 in 1934-35 and £18,782 this year.< Consequently, the accumulated deficit had been reduced from £26,700 last year to £13,473. The total gross profit increased by 22.3 per cent, and depreciation and provision for bad and doubtful debts were only 3.7 per cent, higher. The future was regarded by Mr. King as decidedly promising, provided that the new Government's legislation was reasonable.
The retiring directors, Messrs. J. H. Ashton, W. Healy, T. King, J. H. P. Strang, and A. Thome, were re-elected.
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https://paperspast.natlib.govt.nz/newspapers/EP19360801.2.113.7
Bibliographic details
Evening Post, Issue 28, 1 August 1936, Page 12
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164NEWTON KING, LTD. Evening Post, Issue 28, 1 August 1936, Page 12
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