Licensing Trust Returns £SOOO To City Out Of Year’s £58,000 Profit
(P.A.) INVERCARGILL, June, 2. The Invercargill Licensing Trust will distribute £SOOO of the net profits ior :he past year to various cultural, social and sporting interests in the city. This was decided yesterday at the annual meeting of the trust. , It was reported that the turnover for :he year was £396,771, an increase of ’36,161 on the previous year's figures. The net profit for the year was £58,280, :ompared with £34,216 in 1949. The chairman. Mr. Hugh Ritchie, said •hat the year had been successful from all points of view. The distribution of -’SOOO in the city was the highest in the trust's six years of history, except for 1946 when £6050 was returned to the -itizens. A total of £18,941 had been distributed since 1945 and in that period the total turnover had been £1.816,618. The general reserve amounted to £41,102.
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Bibliographic details
Gisborne Herald, Volume LXXVII, Issue 23269, 2 June 1950, Page 6
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153Licensing Trust Returns £5000 To City Out Of Year’s £58,000 Profit Gisborne Herald, Volume LXXVII, Issue 23269, 2 June 1950, Page 6
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