NET PROFIT INCREASE

Evening Post, Volume CXXII, Issue 134, 3 December 1936, Page 12

NET PROFIT INCREASE

CANTERBURY FROZEN MEAT

(By Telegraph—Press Association.) CHRISTCHUECH, December 2. The annual report of the Canterbury Frozen Meat and Dairy Produce Export. Co., Ltd., states that the net profit for the year, after making provision for depreciation, is £41,119 8s Id. From the amount.brought forward last year the sum of £3.000 has been deducted for additional dividend paid during the year to preference shareholders uy order of the Supreme Court. The bal-' ance, added to the net profit for- the year, makes the amount at credit, of the profit and loss account £45.308 7s 3d. Out of this £10,000 has been added to the general reserve fund, and £ 12,000 I to the renewals reserve fund, and after such appropriation there remains £23,308 7s 3d, which the directors propose should be dealt with as follows:— j Dividend of 6 per cent, on praference shares, £6000; payment of dividend of 7 per cent, on ordinary shares, £7875; carry forward, £9433 7s 3d. The nit profit for 1935 was £42,161. The directors retiring, Messrs. John Deans and John Grigg, offer themselves for re-election. , ■ .