COMPANY EARNINGS

Evening Star, Issue 23503, 17 February 1940, Page 13

COMPANY EARNINGS

TREND IN AUSTRALIA UPWARD MOVE ARRESTED MORE LOSSES INCURRED Profits announced by 677 Australian public companies engaged in all classes of industry, with the exception of mining, aggregated £26,335,013 in 1939. compared with £26,955,777 in the previous year. Fewer companies reported higher profits, and losses were incurred by more concerns. t ■ Steady profits were announced by 110 companies, increased by 285, and lowered by 282. In 1938, 70 per cent, of these companies reported higher earnings. The highest profit-earner was , again the Broken Hill Proprietary Company Ltd., with net earnings of £1,431,513, the largest'profit ever annnounced by an Australian company. The only other seven-figure profit-maker was the Colonial Sugar Refining Company Ltd. with £1,005,670. , ' Because of the low price of wool and the reduced Australian clip, _ pastoral houses were again the principal _ sufferers. These important undertakings, however, with the excellent season being enjoyed and an assured market for their products at profitable prices, should reap higher profits this year. Commenting on the figures, the Melbourne ‘ Herald ’ states that the upward trend of profits of public companies has already been arrested, but it is reasonable to expect that a majority will maintain a satisfactory earning rate under wartime conditions. It remains to be seen what impacts higher taxation will make on the efficiency of company managements, and on the optimism of the share market.

PROPERTY REPORT R. S. M'Kenzie Ltd. reports having sold the following propertiesMr S. M. A. Beck’s eight-roomed residence and quarter-acre freehold section, 183 Upper Carroll street, and Mrs Clara Bowkett’s freehold section, with dwelling, shop, and cottage thereon, No. 29 Bedford street, St. Clair. There is a demand for rented properties showing a reasonable return, as was instanced by the sale by private treaty during the week of a villa residence converted into two high-class flats, in Anderson’s Bay. The price realised was £1,650, cash within four weeks.