COMPANY NEWS
Baltins Breweries.—A recovery in the net profit from £59,868 to £65,672 is shown for the year ended September 30. From this taxation provision at £36,500 (£31,415 a year ago) has to be taken, leaving a residual net profit of £29,172. The dividend recommendation is unchanged at 4 per cent, (final 4 per cent.), which requires £24,500 and the preference dividend at the rate of 5 per cent, per annum on redeemable preference shares, recently offered, and not yet fully paid, will require £672. The company will carry forward £44,350, against £40,315 brought in. The directors report that the turnover was again higher, this being reflected in increased gross and net profits. Overhead expenses also rose, but much of the rise was attributable to the policy of change in costing procedure. The progress on the plant and new installations was not as fast as had been expected, because of delays in the shipment of machinery from overseas, but the directors believe that all units at the brewery and at Hawke’s Bay will be in economic operation by the end of January. 1951.
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Otago Daily Times, Issue 27570, 12 December 1950, Page 9
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183COMPANY NEWS Otago Daily Times, Issue 27570, 12 December 1950, Page 9
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