COMMERCIAL

Poverty Bay Herald, Volume LXIII, Issue 18992, 17 April 1936, Page 9

COMMERCIAL

MACKY, LOGAN, CALDWELL FINAL DIVIDEND RBCOM; MENDED ■The first report since tin 1 reorganisation of Maclcy, Logan, Caldwell, Limited, shows a net profit of C 5442 for the year ended February 1!». A final dividend of :u per cent, is l recommended, making 6 per cent, for (lie year. In the previous year a dividend of 3 per pent, was paid from capital profits of .Cs*i23 earned prior to Incorporation. The directors report that trading results have been satisfactory, the turnover for the year showing a substantial Increase. NORTHERN ROLLER MILLINGREDUCTION IN DIVIDEND The accounts of the Northern Roller Milling Company, Limited, for the year ended February 29 show a net profit, before making provision for income tax, of £ 32,507, a decrease of £'B7.' •Although earnings have been maintained, the' directors recommend payment of a, dividend on ordinary'shares of 6J per cent., against 7 per cent, in the previous year'. This may be accounted for by the new system of Government control of flour mills' output, which is likely lo reduce, the profit margin of the mills. Obviously it is a precautionary measure. Gross*, profit is about £301)0 higher at £138,871, but expenses have increased by .that amount. Prom the 'net profit •of "£32,567v £3900 is rej quired for a dividend of 6k per cent., 'less 20 per cent., on the preference shares and £12,375 for the ordinary dividend of 5J per cent. The sum of £5731 is added to the floating balance, 'which becomes £02,820. On the ' figures, income tax provision is £10,501 against £.10,555 in the previous year. HASTINGS STOCK SALE PAT SHEEP MARKET EASIER Store cattle and fat sheep were easier at the Hastings stock sale on Wednesday. Butchers were quiet in the fat sheep section. They appeared to have overbought last week. Prime ewes were easier by Is 6d, and made to 20s. Heavy prime lambs brought 27s Od, and '2-th wethers 20s Id. For the ' heavy yarding or store cattle, which included several large station drafts, values were definitely easier, with passings very frequent. Forward bullocks made to £8 14s; good three-year steers to .C 7 15s; younger entries generally made reduced rates.