N.Z. DAIRY COMPANY PAYOUT

Putaruru Press, Volume XX, Issue 1193, 1 August 1946, Page 2

N.Z. DAIRY COMPANY PAYOUT

ME. PAP.LANE'S STATEMENT Payment Of Surpluses This Month In a statement issued last week Mr. C. J. Parlane, general manager of the New Zealand Co-operative Dairy Co., Ltd., said the total surplus in the company's profit and loss accSunts for the 1945-46 season amounted to £1,093,346, including amounts due to approximately 12,000 suppliers to the company’s butter, cheese, milk powder and evaporated milk factories. Including the interim payment of Id per pound which was made on May 20 last on all butterfat supplied during the period June T, 1945, to March 31, 1946, the deferred payment to shareholding suppliers *to the butter department would be 2.5370 d. The total average payment for finest quality butterfat, including cartage, was 21.3876 d, and for all grades, including the farm cost allowance, 20.8143 d, or, including cartage, 21.2171 d. This payment did not include rebateo err profits from trading departments. The payments -to. be made to suppliers to the company's cheese factories varied according to local conditions, the average over all factories, excluding town milk sales but including the farm cost allowance, being 23.1018 d. Suppliers to the company’s milk powder factories, evaporated milk factory and town milk groups would be advised within the next few days of the surpluses available within their respective groups. Every effort was being made to pay out all surpluses in full at the end of the present month. Owing to the unprecedented drop in butterfat (production, due to drought conditions, and which amounted to over 22 per cent., Mr. Parlane said it wag impossible to hold costs down to previous years’ figures, and he also pointed out that the company had followed its usual practice of maintaining its factories and plant at a high state of efficiency which would ensure the company being in a strong position to meet anticipated lower prices after the expiry of the present contracts.