MESSRS. HANCOCK AND CO.

New Zealand Herald, Volume XLVII, Issue 1449, 3 October 1910, Page 3

MESSRS. HANCOCK AND CO.

[from our own correspondent.] London, August 26. The report of Messrs. Hancock and Co. (New Zealand) for the year ended March 31 last was circulated this week. The directors state that the profit for the year, after providing for all management, working expenses, and income tax, amounted to £23,428. To this has to be added the amount brought forward, £8197, together £31,625. From this have to be deducted : Debenture interest, £7150 ; depreciation of leaseholds, plant and machinery, casks, etc., £3398. The directors propose to pay a dividend on the ordinary shares of 7 per cent, for the year, to place to general reserve £500, and to carry forward £6327. Upon this statement the Financial Times has eulogistic comment to make. It says : " The report of Hancock and Co. . . . indicates that the brewing interest at the Antipodes is in a flourishing condition, for although the profits now disclosed are practically the same as those for the previous year, the balance-sheet shows a position of great strength, and the directors have consequently felt justified in increasing the dividend on the ordinary shares from 6 to 7 per cent. ... A feature of the balance-sheet is an improvement 0f£5200 in the amount of cash, which now amounts to £15,500. Among the liabilities sundry creditors have been reduced from £18,100 to £15,000, which in another satisfactory feature. The freeholds held by the company ire valued in the books at £153,800, which is probably a conservative valuation. At present New Zealand is not troubled with a licensing question, for which holders in this company should be devoutly thankful."