SEWING COTTON PROFITS.

Mataura Ensign, 25 January 1911, Page 3

SEWING COTTON PROFITS.

Mr Archibald Coats, presiding.at the 20th annual meeting of Messrs J. and P. Coats, Limited, the great sewing cotton business, stated that the profits for the year permitted a dividend of 35 per cent. During the past four years they had spent about £1,100,000 on capital account. The average value of stocks and outstandings for the same period showed an excess of £750,000 over the average of the four preceding four years. The annual report, which was : adopted, showed net profits for the past year of £3,171,000, as compared with £2,917,667 last year. The general and dividend reserve amounted last year to £5,900,000, and now, a further £175,000 has been added. Mr Coats explained that the most of their reserves were invested in the business, otherwise they would not have earned such a large profit. The improvement in many of their foreign markets last year lrad been maintained, and their turnover 'for the year ended June 30 was considerably larger than in the preceding year..