SATISFACTORY YEAR

Otago Daily Times, Issue 27388, 13 May 1950, Page 3

SATISFACTORY YEAR

Donaghy’s Rope And Twine Company

The report and balance sheet of Donaghy’s Rope and Twine Company, Ltd., shows that a satisfactory trading year has been enjoyed resulting in a profit of £20,815 4s 7d which is slightly in excess of that earned last year. The claim against the underwriters for the loss consequent upon the fire which occurred in a store last year has been settled and the surplus, after providing for taxation, lias been taken into account this year together with the net surpluses from various Marine Insurances and other claims which arose in previous years and all such claims are now completed. These surpluses, totalling £4452 6s 7d, are shown in the Profit and Loss Appropriation Account. The net profit amounts to £20,815 4s 7d, to which has to be added last year's carrv forward £11,264 2s lOd, less interim dividend of 9d per share paid November, 1949 £7031 ss. £4232 17s 10d—£25.048 2s sd; plus net recoveries from fire, marine and other claims of previous years £4452 6s 7d. leaving available for distribution £29,500 9s. The directors recommend the following appropriations:—Final dividend of Is 3d per share absorbing £11,718 15s (making with interim dividend of 9d per share previously declared and paid. 2s per share for the year), £17,781 14s. The sum of £15,700 has "been written off buildings and plant.