N.Z. FARMERS’ CO-OP.

Feilding Star, Volume 3, Issue 473, 22 September 1925, Page 6

N.Z. FARMERS’ CO-OP.

HAS A PROFITABLE YEAR. Press • Association. Christchurch, Sept. 21. The annual report of the directors of tlie New Zealand Farmers’ Co-op. contains the Pillowing: ‘/I lie confident anticipations expressed last year have been fulfilled, and we feel that the accounts now presented to you Mill be considered satisfactory. ’I he gross profit amounted to £221,0ffl Ids, as against .£.191,281 ds lOd last year, an ■ increase of £33,20'!) 9s 2d. I be net profit upon the trading operations amounted to £00.193 Us 10d from which has been deducted cost of renovations and alterations to promises, and any bad debts dealt until dining the year have been written out of profits, thereby leaving our reserve for doubtful accounts intact. In fact, it has been increased to £4.*,000. Presuming the proposal tor the reduction of capital, etc., as recently submitted to the shareholders and carried by an overwhelming majority is continued, it is proposed to pay six months dividend to preference shareholders.