DRUG COMPANY'S REPORT.

New Zealand Herald, Volume LXIX, Issue 21130, 12 March 1932, Page 7

DRUG COMPANY'S REPORT.

KEMPTHORNE-PROSSER. NET PROFIT OF £49.052. The annual report of Kempthorne, Prossor and Company's Now Zealand Drug Company, Limited, for tlie year ended January 31, discloses a nel profit of £49,052. The balance brought forward from tlie previous year was £28,100, making available £77.152. The interim dividend for tlie half-year ended July 31, at 3£ per cent., absorbed £20.405, leaving to be dealt with £56.747. This it is proposed to apply to payment, of a final dividend of 4 per cent., making 7j per cent, for the year, £23,320; to add lo the staff provident fund, £2500; and to carry forward to next year, £50,927. As with last year, (here is no addition In the reserve fund. The retiring directors are Messrs. W. C. McKollar and F. W. Mitchell, who offer themselves for re-election ~ at the annual meeting in Dunedin on March 22. The final dividend will be payable on April 6. Following is a comparison of the company's results and appropriations for the last llirco years:— 1030. 1931. 1032. Brought forward . .£2ti,slf. £26,f.3t £128,100 Net profits . . . . 71,909 02,769 49,052 £98,425 £BO,IOO £77,152 To reserve . . . . 10,000 To staff fund . . . 3,500 8.000 2.500 •Dividend . . • . 58,295 58,300 43,725 Carried forward ..£20.631 £28,100 £30,927 * In 1930 and 1931 the dividend was 10 per cent The paid-up capital of the company is £583.000. and the reserve fund amounts to £IIO,OOO.