NATIONAL TOBACCO ACCOUNTS.

Evening Post, Volume CXXXVIII, Issue 135, 5 December 1944, Page 7

NATIONAL TOBACCO ACCOUNTS.

The accounts for. the National Tobacco Co., Ltd./ for the year ended October 31 show a eLnoS fl- °,Lo £50 '243' as compared with £56,039 m 1943 and £27,122 in 1942. Out of the net profit £36,343 has been set aside for taxation, leaving a net balance of £13,902. With the £4977 brought forward from last year, the directors are able to recommend a /% per cent, tax free dividend on both classes of shares (unchanged) and carry ' forward fc6004. Stocks are valued at £107,000, as compared with £118,000 last year. "Our stocks iof raw material have reached a new low level " I states the report, "and our prospects of replenishing them are very uncertain" The report comments very favourably on the efforts to grow a suitable leaf in New Zealand, remarking that the results so fat obtained had exceeded all expectations. HUME STEEL PROFIT. x>?o U Qn6/. SH el> Ltd>> rePOrt a net Proflt Of 1*42,300, after paying taxation amounting to £.15,000. The annual meeting is to be held on December 22, and the directors are recommend|ing a final dividend on preference shares of i j3% per cent., making 7% per cent, for the! | year; and a dividend on ordinary shares for i the 12 months of 2y» per cent.