AUSTRALASIAN PAPER
INCREASE IN NET PROFIT. Accounts for the year ended September 30 last of Australasian Paper and Pulp Co., Ltd., which holds a 78 per cent, interest in the manufacturing company (Australian Paper Manufacturers Ltd.), show a profit of £110,950, compared with £106,700 the previous year and £103,730 in 1934-35. Dividends on both ordinary and participating preference, shares are at the unchanged rate of 8 per cent., but require a larger amount of £105,520 on the increased capital. Cumberland Paper Board Mills Ltd. holds the remainder of the capital in the manufacturing company. The profit of Australian Paper Manufacturers Ltd. was £25,980 higher at £218,180 in the year ended June 30, and dividends received by Australasian Papers are consequently higher.
Regarding the activities of the operating company, the directors state that all mills have been kept in continuous production, and many improvements in processes and equipment have been carried out. The new wood pulp mill in Gippsland is expected to be in production at the end of next year.
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Wanganui Chronicle, Volume 80, Issue 250, 21 October 1937, Page 11
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170AUSTRALASIAN PAPER Wanganui Chronicle, Volume 80, Issue 250, 21 October 1937, Page 11
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