BROKEN HILL

New Zealand Herald, Volume 82, Issue 25289, 24 August 1945, Page 4

BROKEN HILL

THE YEAR'S RESULTS CONSOLIDATED NET PROFIT Consolidated net. profit of £.1,030,266 shown by the Broken Hill Proprietary Co., Ltd.. and its subsidiaries is a decrease of £ 1 02,285, or slightly more than half the previous year's increase. A fall of £107,221 in net trading profit is partly offset by an incrcaso of £31.030 in investment and oilier income. Consolidated profits for the past two years are:— ton to jr. Net trading profit ..£1,011,112 £813,801 Gen. investments, etc. 181,130 210,375 Total net profit .. 1,192,551 .1,030,200 Working profit ~ 5,287,127 -1,837,188 Depreciation .. 2,151,057 2,538,280 Taxation .. .. 1,533,182 1,220,002 Shortage of coal and manpower affected the output of the steel works, (he report states. Further slight improvement in the parent company's profit, derived from investments, was reported earlier this month. A transfer to reserve of £IOO,OOO from accumulated profits has been made. MORI'S DOCK INTERESTS LINK WITH GENERAL ELECTRIC Mort's Dock and Engineering Co., Ltd., Sydney, is entering into an agreement to construct most of the mechanical equipment wold in Australia by the General Klectrie Co., Ltd., of Kngland. Jn turn, General Klectrie will acquire for cash 10 ner cent of the Mort's Dock share capital. The whole of the Mort's Dock Authorised capital of £050,000 lias been issued, and the Treasury's permit for the necessary increase and i.wue has been granted. The chairman, Mr. E. T. Simpson, said at the annual meeting *in Sydney that the proposal, which would be submitted to shareholders soon, should result, in association with the largest electrical company in England and in a large increase in turnover. As to immediate prospects, the company had a large amount of work on hand, and it expected further orders for ship construction. Capital of General Electric is £7,708.372. BUTTER-FAT PAYMENT (0.0.) WHANG AREI, Thursday The Whangaroa Co-operative Dairy Co., Ltd.. has decided to pay an extra id per lb for butter-fat, supplies received from returned servicemen supplying the company. This extra payment will be operative for two years commencing this year. This decision was made at the annual meeting of the company and follows a similar action taken by the company after the first world war when the extra Id was paid for a five-year period. The retiring directors, Messrs E. B. Weber and H. W. Driver, were re-elected unopposed. Mr Weber was subsequently elected chairman. RESULTS AT HINUERA Output of the Hiuuera Co-operative Dairy Company, Ltd., for the year ended May 31. was 151-1 '/ 2 tons of butter, an increase of 205 tons. Total payments for the season will be:— Average advance, 11.1 sod per Iti butter-fut, farm costs allowance, 2.837 d, making a total advance of 17.32<id per It) fat. In addition, the deferred payment will provide 2.150(1 per lb; shareholders' bonus, ,250 d; carried forward, .001 kl, making a total of 20.035(1, while with !OS5d rebates to suppliers added, the final total is 20.120(1 per lb butter-fat. The previous season's actual payment was 17.027(1 per lb. Quality premiums equal to an additional £IOOO over and above the guaranteed price were received. The number of suppliers was unchanged at 160. Total charges lo t.o.b. were I.O'.Txl per lb butter-fat, against 1.720(1 in the previous year. TE KAHA DISTRIBUTION Butter produced by the Te Kaha Co-opera-tive Dairy Co., Ltd., in the year ended June 30 totalled 282 tons, an increase of 11 tons. The estimated average pay-out a pound butteriat after disposal of produce is 15.15.5 d plus farm cost allowance of 2.ss7d. making a total of !8.015d average for the season. The previous season's average was 15.105 d per lb butter-fat. Total charges up to f.o.h. were ■ i.'-'siid per lb butter-fat, against 3.11 Id. Suppliers numbered 111, a decrease of eight.

TATUA COMPANY'S YEAR (0.C.) MORRINSVILLE, Thursday Reporting to the annual meeting of the Tatua Dairy Co., Ltd., the chairman, Mr W. Darrell stated that the cheese manufactured tor the season was ios"> tons, this being an increase of 1)5 tons on last season's output, including the farm cost allowances of .7(i?d per it) oil 38,i»'201b of butter-fat supplied in June and July, MM-1, and ■J.HyTd on 555.5M4 lb supplied from August, Hid. to May, inclusive, the average estimated pay-out over all grades for the season was 'i'i.oKitid. Adding the rebate on purchases on a butter-fat basis, the total amount available was I:U'»d. Messrs .1 Baker. I. J. Nola and P. Rushton were reelected to the directorate.