INCREASED PROFIT

Evening Post, Volume CXXX, Issue 4, 4 July 1940, Page 14

INCREASED PROFIT

DOMINION BREWERIES

(By Telegraph—Press Association.)

AUCKLAND, July 3,

A substantial increase in the business of the company was reported by the chairman of directors of Dominion Breweries, Ltd., Mr. L. J. Stevens, at the tenth annual general meeting of shareholders today. The gross profit for the year was £329,705, being £77,267* more than for the previous year. '■ " .-.■■■■ Mr. Stevens said .thatwhile they acr cepted without complaint the burden of war taxation they urged that the Government should limit such burdens to the period of the war. • : "'. Shareholders adopted recommendation's by' the managing director, Mr. W J; Kelliher, to pay' the same dividend as last year, to grant 7i per cent, bonus to staff members, and to make up the wages for employees oh home or overseas service, plus: the 7J per cent, staff bonus. • ~ . Mr. Kelliher urged co-operation; m the-war effort, and stated that the individual and his possessions, had security only in the security of the Empire. War burdens; should be shouldered cheerfully. ■ • , Commenting on the large sum spent by the company in improving its properties, Mr. Kelliher said that, 50^ per cent of the hotels in New Zealand .required reconstruction or rebuilding.