BURNS, PHILP'S YEAR
Burns, Philp, and Company, Limited, merchants and shipping company, Sydney, rpport a net profit of *24U,574, compared with £ 226,067 in the previous year and £216,979 in 1935-36. Dividend is maintained at 10 per cent, per annum (including 3d a share on contributing issue). It is proposed to transfer £75,000 to reserve, increasing it to £1,200,000, and £10,000 is set aside as a first contribution to a staff retirement fund. This will leave £31,459 to be carried forward, against £32,135 brought in. Gross profit increased by £145,973 to £1,111,950 The amount written off for depreciation was £128,288, as against £103,091 in the previous year. The directors state . that the merchandise section of the business was further expanded, and earnings from shipping were well maintained. During most of the year the copra market was satisfactory. The markets for copra overseas became depressed towards the close of the year, but the directors consider that the prospect of early improvement is hopeful.
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Bibliographic details
Evening Post, Volume CXXV, Issue 108, 10 May 1938, Page 14
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161BURNS, PHILP'S YEAR Evening Post, Volume CXXV, Issue 108, 10 May 1938, Page 14
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