SMALL LOSS ON YEAR
RESULT OF PRICE CUTTING. SUN NEWSPAPERS LIMITED. By Telegraph—Press Association. Christchurch, Last Night. The directors of Sun Newspapers Ltd. have issued their annual report and bal-ance-sheet for the year ending March 31. They state that the operations of the company for the year remitted in a nett loss of £1513 12 lOd. The report states that the loss is a little less than last year, and is entirely due to toe reduction in the selling price of newspapers at Christchurch to one penny. Had the price to the subscribers remained at lid the company would have shown a profit. During the year an offer was made for the purchase of the company’s assets on the basis of five shillings a share. The report states: “In the opinion of the directors it did not merit serious consideration. The circumstances of the offer will be placed before the shareholders at the annual meeting and an opportunity will be afforded for an expression of opinion regarding the attitude taken by the board.”
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Bibliographic details
Taranaki Daily News, 20 April 1935, Page 7
Word Count
173SMALL LOSS ON YEAR Taranaki Daily News, 20 April 1935, Page 7
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