NATIONAL ELECTRIC
BUSINESS BUOYANT
Business during the year has been buoyant and sales have increased considerably, reports the National Electrical and Engineering Co., Ltd., of Dunedin, for the year ended October 31. A net profit of £17,340 is recorded and the directors recommend a dividend of 5 per cent. The report states that after providing for income tax estimated at £7900 and the writing down of shares held in New Zealand Insulators, Ltd., by £500, there will be a credit balance of £3026 19s 7d. This amount, added to the credit balance carried forward from last year of £167 11s 7d, will increase 'the credit balance to carry forward £3194 11s 2d. In ascertaining profits for the year no credit has been taken for the amount of orders in hand. The company's assets have, as in the past, been conservatively valued, suitable provision having been made for depreciation of plant, buildings, stock, and furniture. Business during the year has been buoyant, and sales have increased considerably, and the directors hope that these favourable conditions will continue.
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https://paperspast.natlib.govt.nz/newspapers/EP19371208.2.197.4
Bibliographic details
Evening Post, Volume CXXIV, Issue 138, 8 December 1937, Page 16
Word Count
176NATIONAL ELECTRIC Evening Post, Volume CXXIV, Issue 138, 8 December 1937, Page 16
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