CHARLES BEGG LTD.

Otago Daily Times, Issue 27112, 21 June 1949, Page 7

CHARLES BEGG LTD.

RESULTS OF YEAR’S TRADING

The directors of Charles Begg and Co., Ltd., in their report for the 12 months ended March 31 last state that the net profit on the past year’s operations was £18,681 17s 9d, to which has to be added the carry-forward of £11,742 4s 9d, making a total available in the profit and loss account of £30,624 2s 6d. The- directors recommend a dividend of 7 per cent., free of social security tax, absorbing an amount of £9982 11s Bd, building up the dividend equalisation reserve to £IO,OOO, absorbing a further £1465, and transferring £BOOO to the general reserve. ' After adjustment for these recommendations, wnich will absorb a total of £19,447 11s Bd, the balance to be carried forward Svill be £11,176 10s lOd. as follows:—Balance carried forward on profit and loss appropriation account, as shown in last year's report, £11,742 4s 9d: net profit for year ended March 31, 1949, £IB,BBI 17s 9d; dividend of 7 per cent, per annum as recommended on ordinary shares, £9800; dividend of 7 per cent, per annum as recommended on staff shares, £lB2 11s 8d; transfer to dividend equalisation reserve as recommended, £1465; transfer to general reserve as recommended, £BOOO. It is also recommended that £2OOO (all tax paid) be transferred from the hire purchase insurance account to the general reserve.