IMPROVED TRADING

Taranaki Daily News, 13 July 1935, Page 5

IMPROVED TRADING

MORE THAN £10,003 NET PROFIT. NEWTON KING LTD.’S POSITION. A net profit of £10,077 7s 7d for the year ending April 30, 1935, is shown in the balance-sheet of Newton King Ltd., which will be presented at the fifteenth annual meeting of shareholders on July 31. The accumulated deficit brought forward from previous years has been further reduced by this amount and now stands at £26,760 19s Id.. Although the year was ndt by any means free from difficulties improved trading was experienced. ’ Full allowance was made for depreciation and maintenance charges to. ..the extent of £7210 4s sd, states the directors’ report, and the directors were satisfied that adequate provision was made in respect of the merchandise stocks and book debts. During the year expenses were strictly controlled and this, in conjunction with increased gross earnings owing to an improved turnover, enabled a better net result to be achieved. The directors who would retire this year were Messrs. I. M. Kidd, E. King and S. E. Shaw. They were eligible and offered themselves for re-election.