FARMERS’ TRADING
INCREASED DIVIDEND MAINTAINED P.A. AUCKLAND, May 20. Record net earnings of £76,504 —a rise of £ 18,119 — are reported by the Farmers' Trading Company, Ltd., for the year ended March 31. Dividend on ordinary shares is maintained at 7J per cent., to which it was raised last year from 5 per cent. The requirements for ordinary and preference payments total, £53,157. The floating balance is £61,723,-aaginst £38,376 a year ago. The gross trading profit reached £636,085, compared wtih £579,557 in the previous year, while general expenses, chiefly due to wage increases, rose to £523,137, compared with £495,771. Sales made a new record of £4,294,772. being £605,895 above the previous year. Stocks at £760,791 have risen by £230,926 because of the greater volume of imports from Britain and higher price levels.
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Otago Daily Times, Issue 26777, 21 May 1948, Page 7
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131FARMERS’ TRADING Otago Daily Times, Issue 26777, 21 May 1948, Page 7
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