Hokianga Dairy Co. In Sound Position

Northern Advocate, 31 July 1939, Page 4

Hokianga Dairy Co. In Sound Position

[Special to "Northern Advocate ”l RAWENE, This Day.

The Hokianga Dairy Company is in a very satisfactory position, the balance sheet to be presented at the annual meeting discloses.

After allowing for depreciation and other reserves, assets are valued 'at

£65,337

A gross profit of £1304 was returned from the stores’ trading department, and £321 of the net profit of £357 is to be distributed to shareholders as a rebate of li per cent on purchases. General costs showed an increase of 10.133 per cent over the previous season. This was due mainly to higher wages, increased cost of materials and the reduced 'amount of butterfat handled at the factory. Reductions were made in cream collection costs, administration expenses and freezing and storage charges. Cream collection costs were £9655, compared with £9532, or ,741 d per lb butterfat and .746 d respectively.

The overrun was 22,12, and the average grade of butter 93.38 per cent, or .37 per cent better than last year.

A steady improvement in cream grading percentages was also apparent, the figures, with those for the previous season in brackets, being: Finest, 45.90 (40.25); first, 52.36 (53.80); second. 1.74 (5.95). Messrs Erockliss, Harding 'and McGowan retire by rotation from the directorate, but offer themselves for re-election.