MEAT IN ENGLAND.

Hawera & Normanby Star, Volume LXXII, Issue LXXII, 26 May 1917, Page 4

MEAT IN ENGLAND.

WHO MAKES THE PROFIT?

The Financial Times of March 6 refers to the operations of the firm of Eastman's, Ltd.. who are owners of a treat number of butchers' shops all over Sngland. The annual report of the I firm shows that the year has not been ' one of abnormal profit, for the paper contains the following editorial note, under the heading of "Eastman's Bad Luck" : "The clamor against the retail 1 butchers for charging excessive prices would seem to leave the withers of Eastman's unwrung. The report for 1916 shows a reduction in trading profit from £50,800 to £42,100, and in net profit from £36,100 to £27,600. The preference dividend is again met, but as this absorbs £31,000 the sum brought in has to be drawn on to the extent of £3400, so that only £11,200 goes forward as compared with £14,600. The unsatisfactory outcome of operations is attributed to a reduced turnover, due to the closing of so many shops owing to the lack of efficient men to run them. The wholesale price of meat has also been higher, and the supplies shorter. There has been no ordinary dividend since 1913, when 4 per cent, was distributed."