ANNUAL REPORT OF TIMARU BREWERY CO.

Star (Christchurch), Volume XLIV, Issue 64, 17 March 1931, Page 4

ANNUAL REPORT OF TIMARU BREWERY CO.

FINAL DIVIDEND OF 5 PER CENT IS DECLARED.

(Special to the “ Star.”) TIMARU, March 16. A net profit on the year’s trading of £3965 is shown in the annual report and balance-sheet of the Timaru Brewery Co., and a final dividend of 5 per cent, making 10 per cent for the year, is recommended. The annual report of the directors is as follows: The directors have pleasure in submitting to the shareholders the twentythird annual report and balance-sheet for the year ended February 28, 1931. The net profit for the year’s trading is £3965. The amount brought forward being £8220 12s Bd, therefore the sum available to reserve is £12,185 12s Bd. During the year the company’s premises have been kept in repair, and are now in good order. Also, we have had occasion to add to our rolling stocks. The company’s plant is working very satisfactorily, and the quality of our ale and stout still maintains its high reputation. During the year a well was sunk on the company’s property. The result is we have an excellent supply of water, very suitable for brewing. Since the last annual meeting the directors have, after careful consideration, purchased a wholesale wine and spirit license, and we are now operating in this branch of the business. Prospects for the coming year are very encouraging. Your directors recommend that the amount in credit be dealt with as follows : £ s. d. Pay a dividend of 5 per cent, making 10 per cent for the year .. 1 1,815 0 0 Directors’ fees 250 0 0 Net balance to reserve -. 10,120 12 S £12,185 12 S The retiring directors are: Mr M. Mullin, Mr E. G. Kerr, and Mr W. Baxter who, being eligible, offer themselves for re-election.