DRAPERY PROFITS AND TAXES.
Net profit of Hay's, Ltd., drapers, Christchurch, in the year ended August 19, 1940, was £6706. Profit is struck after provision for taxes and depreciation, and compares with £4464 last year and £4092 in 1938. Dividend recommendation is at the unchanged rate of 6 per cent.,- but it is also proposed to pay a bonus of 2 per cent. The directors recommend that £2000 be sent to stock reserve, leaving £7955 to be carried forward against £6765 brought in. The directors, in their report, say that, subject, to confirmation of the dividend recommendation at the annual meeting on October 16, the company will pay the social and national security charges on the dividend, but they point out that a change of circumstances might necessitate deducting from any future dividend the 2s in the £ represented by these charges.
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Evening Post, Volume CXXX, Issue 81, 2 October 1940, Page 12
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141DRAPERY PROFITS AND TAXES. Evening Post, Volume CXXX, Issue 81, 2 October 1940, Page 12
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