WRIGHT. STEPHENSON PROFIT.

Evening Post, Volume CXL, Issue 55, 3 September 1945, Page 7

WRIGHT. STEPHENSON PROFIT.

A net profit of £44,410, as compared with £42,072 in 1944 and £42,239 in 1943, is shown in (he annual accounts of Wright, Stephenson and Co., Ltd., for the year ended June 30. The general reserve has been increased by £15,000 (making it £115,000) and after paying final dividends of 2% Plt cent, (free of securiti taxes) on the preference shares and a final orj "~M> per cent, on the ordinary shares, making o per cent, for the year in botli cases (unchanged) there remains £40.633 to he carried forward as against £37.157 brought >n- Shareholders1 funds are shown at £768,086, an increase of £18,470, and the totiil debenture stock on issuo is £548,733, or an increase of £13,050. In n memorandum to shareholders, the chairman of directors (Mr. J. T. Martin) states that current assets in tho aggregate have been increased by £54,244. Stocks of general merchandise and produce at £566,524 have increased by £54,28S compared with last year. Heavy sales of these stocks have been made to overseas countries, but shortage of shipping is delaying delivery. Advance accounts show a substantial reduction of £119,871, while sundry debtors on ordinary trade terms have increased by £100,818, due to substantial overseas shipments of produce immediately before balance date for which settlement had not been made.