SHARLAND AND CO.'S YEAR.

Evening Post, Volume CXXXIV, Issue 108, 3 November 1942, Page 3

SHARLAND AND CO.'S YEAR.

Sharland and Co., Ltd.,-report for the year ended August 31 that the profit and loss account, after providing for bad debts and depreciation on properties and plant and staff insurance superannuation, shows a net protit' of £40,914. Land, income, national and social security taxes approximate £30,600, leaving £10,914, to which add balance from last year, £7763, in all £18,677, less interim divi-. dend paid May 10 £3125 and transfer -to general reserve £2000, leaving a balance of £13,552, out of which it. is proposed to pay a final dividend of 2Vj per cent., plus a bonus of 2 per cent, on all shares. £562,", and carry, forward to next year £7927. The retiring director is Mr. A. E. Mabin. who offers himself for re-election. The auditors, Messrs. Pattrick, JTeist, and Jack, Wellington, Messrs. A. and J. Grierson and Browne, Auckland, and Messrs. W. E. C. Ueid and Co., Dunedin, also offer themselves for re-election. The chairman's statement showed stocks lower by CitiGX, book debts higher by £8735, due to increased turnover. Gross profit increased by £19,305, ■■amounting to £96,136. Provision for taxation this year, £30,000. General reserve Increased by £2000. Ample provision has been made for bad debts, full depreciation 'has been provided. After making all provisions referred to and providing for dividend and bonus (making 7 per cent, for the year) the carry forward is £7927. Bonuses have been given to all members of the staff and a superanuation scheme inaugurated which will enable the staff to make provision for old ase aiul retirement The new factory is making good progress, and although restricted by raw materials, continues to supply drugs and pharmaceutic.als which are now being used in greater quantities.