GEAR MEAT PROFIT

New Zealand Herald, Volume LXXVIII, Issue 23861, 11 January 1941, Page 5

GEAR MEAT PROFIT

ijkjs a ioio Brought forward £.>.578 i>9!> £I,9S! Net profit .. 337 11, ti>t) 21,307 ■From insce. res. 5,101 £11.310 £ir..n»S fSO.'JM* Dividend, p.c. 5 ">•(> 5 5-0 7 j Amount .. 13.1 17 13,117 J"2su Carried forward £899 £1.981 £9,033 Gross profit was £40.780_,_ against £28.405, -1)1(1 expenses £14,572, compared with £13,905. Balance-sheet changes are: — LIABILITIES Capital .. £230,000 Same Reserves •• • . 5)5,1 Ci*2 4-1,001 Creditors .. .. SS). 1 S<i +55,0(36 Profit and Loss Ac. '20,538 +5,1-10 ASSETS Cash .. .. Jt 10.191 +5.359 Money on deposit.. 170,000 +102,000 Investments .. 138,120 +33,128 Debtors .. .. .15,880 +B9B Stock at works .. 44.479 -72.091 Fixed assets .. 50,210 -0,2843

FURTHER RECOVERY SHOWN STRONG LIQUID POSITION A further substantial recovery in earnings is shown in the accounts of the Gear Meat Company, Limited, Wellington, for the year ended November 30. After adding £l9Ol to general reserve, net profit was £24,307, the highest figure since 19;?7. As already announced, dividend for the year was increased 2d to 9d a share, equal to 7-i per cent, the Final distribution being 6d a share. The directors state thatowing to the complicated nature of taxation they postponed the date of the annual meeting until this month_ so that expert advice could be obtained before presenting the accounts to shareholders. Results for the past three years are:

The balancing total is £62,707 higher at £434,880. Reserves include insurance reserve fund of £15,162, unchanged. SILVER AND TIN VALUES LONDON, Jan. 9 Silver is quoted at 2"% d a standard ounce and '2s' id a fine . uiu-e, against 'Si .V»«d and ■«!5 ,'MUd an ounce, respect iveiy, on edntv dny. The tin market shaws liftle movement. Spot: Buyers, S'2s'i I..*s a ton; sellers. £'J5,. Forward: Buyers. £i>~>U 1 sellers, £"-'(•»>. In New York, standard tin is quoted at 50,10., coats, per, lb,.