PROFITS GREATER

Evening Post, Volume CXXV, Issue 143, 20 June 1938, Page 12

PROFITS GREATER

AUSTRALIAN INDUSTRIES

Industrial profits in Australia continued their upward trend last year and early this year, remarks the "Sydney Morning Herald." The aggregate net profits of 76 companies reported since the beginning of 1938 show an increase of 20 per cent, over those reported last year. All the companies concerned are listed on the Sydney Stock Exchange. The periods covered by their accounts ended in some cases in December last year and in others early this year. The results in many cases, therefore, reflect the trading of the current calendar year. The earnings are derived from a wide range of activities. The companies included eight retail houses, each of which reported a higher profit. It is significant, however, that the increases over the profits reported last year indicate a slight slowing down of the upward movement in this class. The percentage improvement was 14. Profits reported for a corresponding group last year were higher by 18.4 per cent, than those reported in 1936, which were in turn 28 per cent, higher than those reported in 1935. The tendency in the past three years has thus been towards stability, following the more spectacular recovery from depression levels.

JANTZEN (AUST.) SALES

RECORD

Jantzen (Australia), Ltd., last year had the largest turnover in its history, and the highest net profit since the depression, the chairman of directors, Mr. W. A. Freeman, said at the recent annual meeting. "Some swimming suits (he said) have been made of materials other than wool, and in order to keep pace with the fashion we have made a few suits of these other m'aterials. While these fabrics may have a passing vogue, it is the opinion of the board that they will not prove to be a substitute for wool as a satisfactory material for swimming suits. We anticipate that the bulk of our-production will continue to be made from Australiangrown wool. The company enjoyed the good will and co-operation of retailers throughout Australia and New Zealand," Mr. Freeman said. "During the last summer season the, company's delivery service was for a time not up to its usual standard, because the volume of business proved greater than was expected. For the coming season production had begun much earlier and, with the enlarged factory capacity, the directors expected to be able to make delivery in good time."