COLONIAL SUGAR COMPANY
SUBSTANTIAL PROFIT DISCLOSED. SYDNEY, May 3. (Received May 3, at 11.5 p.m.) At the half-yearly meeting of th© Colonial Sugar Company it was reported that the nefe profits of th© Australian setion for the six months was £215,680. A dividend of 15s per share from the mill profits and 5s from tax-free investments was declared. dt was decided to transfer £50,000 to reseive and to carry forward £33,489. The Fiji setion’s net profit for the year ended March 31 was £213,000, from which £113,750 was deducted to pay a dividend in September last. It was resolved to pay a 6 per cent, dividend on preference shares, absorbing £48,750, and to caTry forward £50,500, making tho total carried forward to next year’s amount £240,212. Th© report stated that the Fiji output waa above expectations, but tho disturbed labour conditions militated against the company’s progress.
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Otago Witness, Issue 3556, 9 May 1922, Page 26
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146COLONIAL SUGAR COMPANY Otago Witness, Issue 3556, 9 May 1922, Page 26
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