COLONIAL SUGAR CO.

Wanganui Chronicle, Volume 72, Issue 260, 1 November 1929, Page 9

COLONIAL SUGAR CO.

HALT-YEARLY REPORT NEXT YEAR’S PROSPECTS ( Australian Press Assn. 1 SYDNEY, Oct. 30. The half-yearly report of the Colonial Sugar Refining Company, Limited, issued to-day, revealed that the sum earned from trading and investments during the |iast half-year amounted to £465,943. of which the sum of £265,747 was made from the Australian mills, and refineries, and the remainder, £199746, from New Zealand and Fiji. The latter sum is not subject to Federal income tax. The board proposes to pay a dividend of twenty shillings and a bonus of five shillings per share, which will absorb £365,625. The amount left to credit of profit and loss account is £410,776. The report states that there has been no increase in the consumption of sugar, either in Australia or New Zealand. The total output of sugar for the six months is about 600,000 tons. The prospects for the 1930 crop are not so far favourable. The report adds: “Presumably no: action will bo taken in England concerning the proposed abolition of sugar duties until the whole question is fully considered, but the loss of preference allowance would De a serious thing for the sugar-producers of Australia, while any alteration in Canada similar to that suggested in Britain would be sorely felt in Fiji/’