DECREASE IN PROFIT
COLONIAL SUGAR REFINING COMPANY, LTD. PA AUCKLAND, May 30. The Colonial Sugar Refining Company, Ltd., Sydney, earned a net profit of £1,206,762 for the year ended March 31, against £1,241,504 last year, when earnings were a record. A record bonus of 1J per cent, is added to the year’s unchanged dividend of 9 per cent., making a total distribution for the year of 10J per cent. The dividend and bonus together absorb £1,228,500 and an unchanged amount of £75,000 is placed to the reserve. The carrv-forward is increased by £172,932 to £504,887. The directors state that sugar sales in Australia were again, a record, and, in New Zealand, they were up 8 per cent, on the average for the previous three years. Any shortage of refined sugar was due to man-power, shipping and coal difficulties, and in New Zealand also to a hiatus in orders prior to the price reduction.
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Bibliographic details
Otago Daily Times, Issue 27094, 31 May 1949, Page 7
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153DECREASE IN PROFIT Otago Daily Times, Issue 27094, 31 May 1949, Page 7
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