ROYAL MAIL LINES
FIRST DIVIDEND PAID The most successful year’s trading yet experienced is reported by the directors of the Royal Mail Lines. Gross profit on voyages in 1935 was £888,362, a gain of £139,327 over the figure of the preceding year. The sum was arrived at after charging operating and lying-up expenses and insurance of fleet. A fleet replacement account was credited with £130,000, and a dividend of 3J per cent., less tax—the first paid—absorbed £108,500. The report states that there was an improvement in passenger business, in some measure attributable to special facilities introduced to encourage tourist traffic. Freight business continues to be hampered by trade restrictions of various kinds.
Speaking at the annual meeting in London, Lord Essendon, chairman of directors, said that, having regard to the high average age of the vessels of the fleet at the time they were taken over by the company in 1932, consideration of the question of replacement by a new building programme could not be very far distant. The company was formed under the Royal Mail group scheme of 1932 to acquire the fleet of Royal Mail Steam Packet Company, 29 vessels, and the ships of three smaller companies.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ESD19360529.2.47.7
Bibliographic details
Evening Star, Issue 22351, 29 May 1936, Page 7
Word Count
199ROYAL MAIL LINES Evening Star, Issue 22351, 29 May 1936, Page 7
Using This Item
Allied Press Ltd is the copyright owner for the Evening Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence. This newspaper is not available for commercial use without the consent of Allied Press Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.