DIVIDEND RAISED
BURNS, PHILP LIMITED RECORD NET PROFIT Rec. 8 p.m. ‘ SYDNEY, May 12. Burns, Philp and Co., Ltd., is raising its dividend to 114 per cent, for the year ended March 31, after the rate has been stationary at 10 per cent, for 29 years. The net profit of £288,124 is an increase of £8274 on the year, and the best to date. The dividend requires £225,000 and £50,000 is again placed to reserve, making it £1,400,000. The carry-forward is £13,124 higher at £92,690. The gross profit rose by £280,081 to £2,133,984. Expenses, including taxation, were £179,553 higher at £1,570,163, and provision for bad debts and losses £76,916. The report states that shipping conditions continue to deteriorate, chiefly because of higher working and overhaul costs and port delays. The new cargo vessel, Braeside, is expected to reach Singapore in August to take up Australia-Singapore-Malaya trade.
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https://paperspast.natlib.govt.nz/newspapers/ODT19490513.2.124
Bibliographic details
Otago Daily Times, Issue 27079, 13 May 1949, Page 9
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146DIVIDEND RAISED Otago Daily Times, Issue 27079, 13 May 1949, Page 9
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