HIKURANGI DAIRY CO.

New Zealand Herald, Volume LXVII, Issue 20599, 25 June 1930, Page 9

HIKURANGI DAIRY CO.

ANOTHER GOOD SEASON. SALES ON F. 0.8. BASIS. [BT Tn.EGSA?2-—OW* C-nH2XSPOSSEfX.] WHANGABEI. Tuesday. The balance-sheet of the Kikaraniri Dairy Company, Ltd.. which triU.be submitted to the annual meeting of shareholders on July S, discloses some interesting facts and the directors' renort states that a very successful year has been experienced. The output "was approximately tons, against 1508 tons in the previous season, a decrease of 25 tons. Against this, however, has to be taken into consideration that in the season just ended there was a decrease of no fewer than 151 suppliers owing to the opening of a new factory. The total revenue from butter in 1929 was £213.648 and £135,957 in 1350. In the 1325 season the company sold the major portion cf its output cn consignment and the averajje price, with deferred payment added, was 18-595 d. For the season just closed a new departure was effected and the bulk cf the output- was disposed cf on an f.o.b. basis, returning an average price, with deferred payment added, of 15.073 d. The cost of manufacturing was practically the same. In marketing costs, however, a big saving was effected. In 1329 under consignment the cost to market a pound of butter was LllSd, but by adopting the io.h. system this charge was reduced to .417 d. A significant fact in connection with the company's operations is that 75 per cent, of the 1950 make was disposed of cn the Canadian market. The value of butter an hand at May 31, 1930. was estimated at £20,585, .against £4149 in the previous year.