COMMERCIAL

Greymouth Evening Star, 10 November 1944, Page 6

COMMERCIAL

WESTLAND BREWERIES LTD The anual report and balance-sheet of Westland Breweries, Ltd., for the year ending June 30«- 1944, has been issued. The report stated that after writing off depreciation on buildings, plant, machinery, rolling stock, etc., and paying beer duty, there, remained a net profit of £ 14.629/15/7, to which had to bo added the amount brought forward from last year, £4480/5/7. plus the amount of £64/4/8, covering over-estimated income tax for the year ended 1943, which made a total of £19,178/5/10, from which. £ll,OOO had been set aside as provision for the last year’s taxation. The payment of an 8 per cent, dividend was recommended to shareholders. This would absorb the sum of £4400, leaving a balance of £3778 5/10, to be carried forward to next year’s account. The company’s investments in the War Loan had been increased from £5635/5/6 to £6649 0/6. Several shareholders of the company had expressed a desire that the shares of the company be listed on the Stock Exchange. The articles of association of the company as now existing did not comply in all respects with the official list requirements of the Stock Exchange Association of New Zealand. With a view to the listing of the shares it was proposed to submit to shareholders for their consideration a special resolution by way of amendment to the Articles of Association requisite for the requirements of the Stock Exchange.