N.Z. RENNET

Evening Post, Volume CXXIII, Issue 117, 19 May 1937, Page 14

N.Z. RENNET

INCREASED OUTPUT AND

PROFIT

The annual report of the New Zealand Co-operative Rennet Co., Eltham, states that "increased output with other favourable circumstances has resulted in a larger profit than for previous years." The balance of profit from 1935----36 together with amount placed to reserve in recent years has been applied to extinguishing the loss made in the early history of the company, giving a credit of £36 18s 6d which has been placed to building reserve; and in addition a profit of £39 19s lOd from repayment of funds invested in Government Bonds has also been credited to this reserve. In addition to recovering loss of capital , which reached £7000 twelve years ago, shareholders since 1930 have received in dividends' and rebates the sum of £12,812 2s and substantial amounts have been written off all fixed assets. A new laboratory building will be completed in August. Profit and loss account shows a surplus of £4113 Is 6d and the directors recommend a dividend of 5 per cent, on capital paid at April 30, and the balance is recommended to be credited to building reserve. The junket campaign instituted by the company had been the means of increasing consumption an estimated 3,000,000 gallons of milk in junket form. WHITE LEAD CHEAPER. The price of English white lead for export has eased considerably of late, with a recent advance bringing the indent price down by about £ 12 per ton on top quotations in March last.