TRADING LOSS

Evening Post, Volume CXXV, Issue 37, 14 February 1938, Page 12

TRADING LOSS

CARRIER AUSTRALASIA

The directors of Carrier Australasia, , Ltd., report that preliminary figures in respect of the year ended December 31. indicate that it *nll not be possible to declare a dividend. "In' May last," the directors state, "there were considerable orders m hand, and other valuable- contracts ' seemed imminent, but the smooth and profitable working of the business was interfered with to a considerable extent by the trade diversion policy of the Federal Government, which created — difficulties relative to the importation of necessary parts and equipment from America, and thereby threw additional cost upon the company to an extent which could not then be foreseen. \ "Our new. factory will be ready to undertake production in two months' time, and- a favourable revision of the Commonwealth policy is shortly anticipated; delays and disappointments of the nature suffered for some time should then, be past. "The aggregate result points to a considerable trading loss for. the yeat, against which there is the credit balance carried forward from 1936. ; "With the completion of the factory," the directors' statement adds, "the directors believe that the company will be well placed to operate at a reason- ; able profit . . . The contracts booked in January, 1938, were ' more than double in value those of any other January." .