PROCERA BREAD PROCESS

Wanganui Chronicle, Volume 80, Issue 276, 20 November 1937, Page 15

PROCERA BREAD PROCESS

DIVIDEND OF 10 PER CENT. The directors of Procera Bread Process (New Zealand), Ltd., report for the year ended September 30 that the patent situation has not materially altered during the year. International rights were sold to a British company (1.P.P., Ltd.), and the only patent rights now held by the company are those for Australia. The position in Australia strengthens as Procera bread becomes better known to the public. Procera is now well established in New Zealand, and some licensees show remarkable figures for Procera in comparison with sales of ordinary bread. 1.P.P., Ltd., reports rights sold for cash for South Africa and Rhodesia. Net profit is £2136, brought forward from last year £4270. Deducting dividend paid in December and adjustment of the value of Australian patent rights and trade name, a balance of £2966 remains. The directors recommend a dividend of 10 per cent, on £25,000 be paid, thus absorbing £2500, and that a balance of £466 be carried forward. The retiring directors, Messrs. C. W. Salmon and Edwin Salmon, offer themselves for re-election.