NATIONAL TOBACCO

Taranaki Daily News, 5 December 1930, Page 6

NATIONAL TOBACCO

A’:;;..;./.-':':-.;; < ■ 'NET PROFIT OF £44,571. DIVIDEND OF 15 PER- CENT.. ' A/-inet .; pi:pfi,t:pf , £44j57.1. is ( shown in the. annuarTeport -and balance-sheet of the -' National; ■ Tobacco A Company, Ltd., Napier,: ,f°r theAyelar: ended October 31 r 1930:? 'A'; baiancei> of. £4526 .'-was brought fbrwardi'frpmi-theljprevious year, making the -.s.upi of, £49,09g avairhble -for . distribution./' The "directors A recommend payment of a dividend- pf T 5 per cent, on the .'ordinaryj.shares ,and) ,8: per cent, on the 'preference'.-'shares,.: and the., transfer of ’ £25,000 tb reserve acebunt/ which wijrthen 'stand • at; £90,000 ;Athe ■; sum of £6227' : will be carired’ forward the credit of profit ■ arid doss accoun t. .’. TJib’. : dfrec|pre’,'report: states; that the tariff ofi’jffie.-past-.year favoured: ’io v.the : extent ‘of , Is. 'a. lb. manufacturers.- vrbo used wholly: or mainly foreign- leaf.; There- were further apparent dri^uiaptids' : dd>^hd:</h^ridm ei rt s ‘Zealand/mahufabturer’s being removed';■ -The ■ company/hadcb'n'tributed/atbtaL'of'£l24,49l through'.-bdb&:b- Arid • ciist’pms-.duties during ;tfid.-’ financialAy.ear,' and the amQUri.tdip;rpvided.d.iirnoyer;'remained the same, -would be .at least £15,000 larger at new: full.year.'- Apart - drb(piAdirect':; contributions the Dominion, the; company •i wab'-dbirig;■ much' to keep year ovpri.£3 v q,opo4^yaa: spent .on. tins, can'riijterS' 1 and. pthbr hsaterjalb; .£35,000 went in wages and salaries; £6OOO in railway .freights; New Zealand growers received in the vicinity of £50,000 for the tobacco leaf; packing cases and wrapping paper als'p absorbed big amounts. In addition, the Commissioner of’-Taxes would lake £17,000 this year.-A, ». . Figures "from the profit and loss ac-count-for'the ,:past-'three years have been as follows-:— ,

The balance-sheet shows pajd-up capital at £124,341. On the assets side plant and preihises are -'shown at £45,506; stock £5'1,610; sundry debtors £44,244;

19-28: £' 1929. ■ £ 1930. £ Gross profit. . < 82,§49 94,883 105,990 Expenses.;,.. 44,297 49,815 59,429 Depreciation 1,053 4,005 3,386 Net profits ,38,057. 42,283 44,571 Dividend, p.c. . , 15. r 15 . 15