WOOLBROKERS’ PROFITS

Feilding Star, Volume 10, Issue 3932, 16 January 1933, Page 7

WOOLBROKERS’ PROFITS

AIJSTR A L I AN IMPRO V EMENT ADJUSTMENT OF EXPENDITURE Aided by good seasons and by rapid adjustment of expenditure t-o income, woolbrolcers of Australia have been able to show improvement in profits for the last year, sautes the Melbourne Argus. Owing- to low prices for wool and pastoral produce generally the companies have lost much iu potential commissions ami the Financial Emergency Acts have reduced income from iuor tgago loans and other r> vauces. Charges have been reduced as far as possible, but other burdens carried by their clients, such as land tax, have made if difficult for the companies to finance their business and that of their customers. Net profits of nine companies refresenllative of the woolbrnb cis of Australia show improvement in the accounts issued in 1932. At £332.164 the net profit earned by the companies is greater than that of; 1931 ’ £91,001, or 37.7 per Amt, Capital employed amounted tb CL'' 206,529, and total shareholders’ funds used were £20,202,393. The return of the aggregate net prolitls on funds employed + earn ihem was 1.64 per cent, compared with 1.18 per cent in 1931. The average ordinary dividend paid was at the rate of 3 per cent per annum, compared with 5.6 per cent, paid two years ago. Dividends paid by the comnanies exceeded profits by £lsßl.