SATISFACTORY YEAR

Sun (Auckland), Volume I, Issue 144, 8 September 1927, Page 2

SATISFACTORY YEAR

MILNE AND CHOYCE, LID. NET PROFITS AT £21,479 A net profit of £21,479, making possible the payment of a dividend at the rate of 8 per cent, per anum, is tangible evidence of a satisfactory' year’s trading on the part cf Milne and Ciioyce, Lid. After providing £2,500 for sta:Y tonus and allowing for £IO,OOO being absorbed in the dividend, with a balance ir >xr. last year of £29,353, there is £3C,867 to b-; carried forward. During the yea; overhead expenses were substantially reduced. L abilities are shown in the balance sheet as follow:—Capital: Pie erenee shares, £7,000; B prefer^*n e shares, £15,000; ordinai*y shares, £29,250; detenture stock, £3 98,750; a total --f £250,000. These items are unchanged. Other items are —B debentures, £22,000 last Y®* r £22,000); morlgage, bills payable, bank, staff bonus, creditors, depositors, adjustments account, income tax appropriation, etc., £126,559 £ 121,250); profit and loss. £40,868 ( £39,388); a total ot £439.4.* (£432,638). Assets are shown as ’oijow: Stock on hanc and in transit, (£336,571 ) lar. 1 and buildings, (£168,037): p int aid fixtures, ( £94,847) . cash on hand and in bank £2lm (£2,051); bill? receivable, £l2 £oJ>, debtors, £31,2)9 (£31,052). „ The gre ss profits are shown as £ 46.3'.l (£144,705) and expenses, depreciatt"n other charges amounted to £ -*,O • - (£323,780). . Following is a. comparison o the company’s results in the last three years. x 1924-25. 1925-26. J 926 ' 27 Brought orward . 2'\569 28,483 Net: profi 24,273 20,125 21 A Di\ idend, p.c. .. 8 8 * £ £ £ A mount — „ , Share capital 4,100 4,100 4.1 J Debenture =tk. 15,900 15,900 Carried forward £31,843* 29,383 30-867 ♦From this amount r stiff bonu amounting to £3,380 was paid. The annual meeting of shareholders - scheduled or September 28 and rearing dire-tor: . Sir George 33DI®t arfl Mr. Chas. Rhcdet, offer themselves 1 re-election.