COLONIAL SUGAR

New Zealand Herald, Volume LXXIII, Issue 22413, 8 May 1936, Page 7

COLONIAL SUGAR

TOTAL ASSETS HIGHER CASH BALANCES INCREASE An increase m cash balances is the main movement in the balance-sheet of the Colonial Sugar Refining Company, Limited, over the past half-year. A summary of the accounts was given in the Herald yesterday morning. Balance-sheet figures as at March 31, 1936, and the movements over the halfyear are as follows: — LIABILITIES Paid capita! . . £11,700.000 Reserve fund • . 500,000 Replacement fund . . 3,311,260 +£181,325 Employees' funds . . 45,796 -4,785 Sundry creditors . . 1,438,595 +691,884 Suspense accounts .. 2.308,393 -15,538 P. and L. account . . 835,352 —16,902 ASSETS Refineries and mills . ±10,190,316 +£82,462 Stocks of material . . 325,766 +14,113 Ocean strainers . . 142,118 —- Sugar stocks, etc. . . 2,570.542 +420.378 Office premises 56.9R2 +935 Debtorß, investm'ts, etc. '2,692,008 -476,345 Cash and bank . . 3,921.624 + 797,379 Total assets are £20,199,396, an increase of £838,924. Of this increase, cash and bank items contribute £797,379. The debtors and investments total is down, but there is a customary halfyearly fluctuation. The item sugar stocks and balances due for payments for the Queensland Government shows an increase, while fixed assets are moderately higher. Reserves, including employees' benefit funds, total £4,326,783, an increase of £305,827. Sundry creditors have increased, but this is a usual fluctuation for the half-year.

BURNS, PHILP YEAR PROFIT AGAIN HIGHER NO CHANGE IN DIVIDEND The accounts of Burns, Philp and Company, Limited, Sydney, for the year ended March 31, show a net profit of £'216,979, an increase of £5973. The dividend for the year is the same at 10 per cent, requiring £150,000. The appropriation to reserve is increased by £25,000 to £50,000, and copra plantations depreciation account again receives £25,000. Against £39,089 brought forward, £31,008 is' carried forward. The report states that the general business of the company was well maintained during the year. In the merchandise section, sales again show a substantial increase, duo to further expansion. The copra market improved for most of the year, helping trading conditions in Papua and the Mandated Territory. The market began to recede toward the close of the year, when political disturbance in Europe rendered the outlook uncertain. The gross profit was £860.118, showing an increase of £67,277. Expenses of administration, including taxation, increased by £48,679, and the amount allowed for depreciation, bad debts, and losses was higher by £12,626. Results for the past three years compare as follows: — 1931 1935 193G Brought forward £24,826 £2S,OS3 £39,089 Net profit .. 203,257 211,006 216,979 £228,083 £239.089 £250,068 Dividend. 10 p.c. 150,000 150,000 150,000 To reserve . . 25,000 25,000 ' 50,000 Copra deprcc. acc. 25,000 25,000 25.000 Carried forward £28,083 £39,089 £31,068 The transfer of £50,000 to reserve fund will increase that account to £1,050,000. Paid capital is £1,500,000. Insurance fund arid other reserves are £20,000 higher at £535,268. Outside liabilities have increased by £40,000 to £1,568,263. Among the assets, property; ships nnd investments appear at £3,065,818, a decrease of £150,000. Stocks and advances and debtors are higher, but cash items have declined. BRITISH WAR LOAN (Received May 7, 9.25 p.m.) British Wireless RUGBY, May 6 War loan, 3J per cent, is quoted at £lO6, compared with £lO5 15s on April 30.