BURNS PHILP DIVIDEND
Net profit of Burns, Philp and Company, Ltd., at £279,850 for the year ended March 31, is an increase of £21,787 and the company's highest to date. Dividend is the usual 10 per cent., which has -been the rate for 29 years.. The amount is £200,000. Additional reserve is again £50,000, making the total £1.350,000, and the'carry-forward is raised by £29,850 to £ 79 565. Gross profit increased by £178.244 to £1,853,903, but expenses, including taxation, increased more—by £199,951 to £1 390,610. Depreciation charge is £32,447 higher at £182,550. Provision for bad debts and losses is only £892, against a much increased amount of £76,834 las., year; otherwise net profit would have been lower on the year. Most of the company s vessels have been released bv the British and Australian Governments, the report states. The motor vessel Bulolo, which is being reconditioned, will return to Australia soon. A new cargo vessel is being built on the Clyde and will enter the Eastern trade. Rehabilitation of the company s New Guinea plantations continues to be retarded by difficulties of native labour, interisland shipping and supplies.
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Bibliographic details
Otago Daily Times, Issue 26769, 12 May 1948, Page 7
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187BURNS PHILP DIVIDEND Otago Daily Times, Issue 26769, 12 May 1948, Page 7
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