AUCKLAND GAS COMPANY.

Otago Witness, Issue 3803, 1 February 1927, Page 8

AUCKLAND GAS COMPANY.

A PROSPEROUS CONCERN. AUCKLAND. January 27. The annual report of the directors of the Auckland Gas Company for the year ended December 31 states that the profits, after deducting the working expenses, cost of repairs, and renewals, management penses, interest, tad debts ,depreciation, and other charges, amount to £83,393 8s 7d. To this must be added the balance at credit of profit and loss, £38,474 8s 7d, making the amount at credit of profit and loss £121,867 16s 2d. An interim dividend absorbing £40,572 18s v »s paid in July, 1926, leaving a balance of £81,294' 18s 2d to be dealt with. The directors recommend the payment of dividend for the past half-year at rate of 8 per cent, per annum on the £1 fully-paid shares and a proportionate amount on the contributing shares (Ils paid) which w-ill absorb £41,983 12s Sd, leaving £39,311 5s 6d to be carried forward. The statement of accounts shows that the receipts from sale of gas were £405,269 19s 6d (compared with £410,041 13s 7d in the previous .year); from residuals, • fittings, etc., £81,212 12s 5d (£79,138 9s 7d) ; and interest on war loans and debentures, £1716 18s (£1716 18s). The manufacture of gas cost £240,786 15s 3d (£246,698); distribution, £65,678 15s 2d (£64,897 10s lid); and management,. £22,630 7s 2d (£21,309). Rates and’taxes amounted to £28,547 7s 4d, compared with £32,597 in the previous year. The following is a comparison of the company’s results for the past three years, 1924, 1925, and 1926: —Brought forward, £34,519, £37,452, £38,474; net profits, £79,036, £79,305, £83,393; dividends, £76,098, £78,283, £ r ',556. , The dividend in each year has been at t’.e rate f 8 per cent., the increase in amount distributed corresponding with the increment of the contributing share capital.