ROTOITI TIMBER PROFITS
Annual accounts of Rotoiti Timber Company, Limited, for the year ended June 30 show net profits at £8803, compared with £3395 the previous year. Sales turnover at £55,199 compared with £41,844 the previous year, and established a new record for the company. After providing for the 1938 dividend £1585, income tax £2280, and social security tax £382, there is a credit balance of £10,751, which the directors propose shall be allocated as follows: —Dividend on preference shares at 6 2-5 per cent, per annum, £246; dividend on ordinary shares at 4 per cent.- per annum, £2032; transfer to reserve, £5000; balance to carry forward, £3472. The directors state that the mills have been working satisfactorily, and plant and machinery are all in good condition. Although the company's liquid position has substantially improved the directors consider it necessary to conserve cash resources. It is noted .that taxation takes 37 per cent, of the net profit.
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https://paperspast.natlib.govt.nz/newspapers/EP19391028.2.151.8
Bibliographic details
Evening Post, Volume CXXVIII, Issue 103, 28 October 1939, Page 14
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157ROTOITI TIMBER PROFITS Evening Post, Volume CXXVIII, Issue 103, 28 October 1939, Page 14
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