GISBORNE SHEEPFARMERS' YEAR
The Gisborne Sheepfarmers' Frozen Meat and Mercantile Company, Ltd., reports a net profit of £21,717 for the year ended August 31, against £4558 in 1939 and £2882 in 1938. These results enable the company to pay all preference dividends, including the previous year's arrears on preference freezing shares, a dividend of 3 per cent, on ordinary freezing shares, and 6 per cent, on ordinary mercantile shares. No ordidary dividend has been paid on freezing shares since 1937, when 2J per cent, was paid, and the distribution on ordinary mercantile shares last year was 3 per cent. Dividends absorb £9968 and it is proposed to liquidate the debt of £3434 in the freezing account and to transfer £4000 to reserve, leaving £5446 to be carried forward, against £1131 brought in. The increased demand for meat, as a result, of the war, led to heavy increases in killings at the company's two works.
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Bibliographic details
Evening Post, Volume CXXX, Issue 98, 22 October 1940, Page 12
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154GISBORNE SHEEPFARMERS' YEAR Evening Post, Volume CXXX, Issue 98, 22 October 1940, Page 12
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