AN INVESTORS NOTEBOOK

Evening Star, Issue 25750, 25 March 1946, Page 6

AN INVESTORS NOTEBOOK

GOST OF DEFENCE WAR YEARS' lIPBETS Defence materials imported by Ke» Zealand during the war years amounted" to £105,019,676. Imports of materials and equipment for the armed services wer» largely responsible for the high level of imports in 1943 and 1944, when a substantial excess over exports was reccrdedIn 1945 overseas trade figure* assnmsd a position approaching the normal. During the war years the value of defence materials, although included in the trade figures, could not be stated sepa* ratelv. Details have now been issued by the Census and Statistics Department. Th» following table shows the value of imports of defence materials and equipment dorin°r the war years, together with tie total value of imports:—

The volume of exports of produce from New Zealand in 1945, which amounted to £78,502,946, was at the sama level as in the previous year, which was 8 per c*ct. below the pre-war average. For soma commodities, such as wool, the availability of shipping has been a- limiting factor as far as exports were concerned. METTERS (N.Z.) LTD. The net profit of Metiers (N.Z.) Ltd., porcelain manufacturers, Petone, for 1945, was £219 higher at £8,607. A dividend v of 8 per cent., against 8 per cent, for 1944, and 5 per cent, the prevKras Tear, is recommended. This absorbs £5,155, taring a balance of £15,282, against £13,879 brought in. WOOLWORTHS' EARNINGS. Woolworths Ltd., Sydney, earned a profit of £260,854 for the year ended January 31, or £88,781 more titan for the previous year. This is shown after deducting £72,024 paid in taxation (£34,823 for 194445) and allowing £24,442 for depreciation (£24,779). With £321,802 brought in, £582,556 wis available. Preference dividends absorb £21.500 (10 per cent. £7,500; 7 per cenr. £14,000) and the ordinary divideed of 12 per cent., unchanged, requires £133.855. The carry forward is £355,277, subject to taxation liability not assessed at ih* closing of accounts, but the directors consider that it is sufScieai. Reserves, including the carry forward, bat excluding depreciation reserves, total £316,333, against £775,408 at the close of the previous year. Tfae aggregate balance sbeet of mbriditrj companies snows a net profit of £562.373. compared with £603.425 a year eartier. Tax provision was £185,000 (£231.000). T»t payments, less refunds, amounted to £llO.897 (£123.825). Combined assets are set down at £3,918.855 (£3.757,910). WEST AUSTRALIAN PROFIT. Net profit of Woolworth {WJU Ltd., for the vear ended January 31, was £47.961. compared with £1,994 the previous year. Taxation pavments amounted to £13,235, against £36,849. Preference dividend of 8° per cent, absorbs £1,600, end ordinary dividend, again 12 ner cent., fakes £11.387. The sum of £72.648 is carried forward, against £50,959 brought in. This is subject to taxation not assessed at the clow of accounts.

Defence. Total import*. 1939 ... 800,642 4937,183 1940 ... ... 3,043,531 48,587,669 1941 ... ... 5,691,177 49JS7.010 1942 ... „. 14,706,012 53.836,012 1943 ... ... 46,784,158 95,242.030 1944 ... ... 30,020.747 86.636,531 1945 ... ... 3,973,359 55,072,928