COMPANY AFFAIRS.

Wanganui Chronicle, Volume 87, Issue 204, 30 August 1943, Page 1

COMPANY AFFAIRS.

ELDER, SMITH PROFIT. After transferrins £lO,OOO. to provident and guarantee fund. Elder, bmith, and Co.. Ltd., woolhrokers, etc., Adelaide, made profit of £175,739 for the year to June Comparable profit in previous year was £176,653. Steady dividend of 6) per cent, absorbs £175,500, leaving £125,059 to bo carried forward, against £124,820 brought in. G. J. COLES PROFIT. G. J. Coles Ltd.. Melbourne, reports net profit for 1943 £150,142 (against £198.66Z last year) after providing for taxation, salaries, and depreciation of fixed aaaets; in addition £233 was brought in, making a total of £150,375. After payment of interim dividends amounting to £63,661, the sum of £86,714 remains, which the directors recommend should be dealt with as follows:—Final dividend on ordinary shares, £77,491 ; transfer to generai reserve, £9000; carry forward, £223. The fium of £9OOO was set aside for employees’ superannuation fund. ‘‘The results of the year’a operations have not. In the opinion of the directors, been materially affected by any items of an abnormal nature.*’ WOOLWORTHS PROPERTIES, LTD. Woolworthf Properties Ltd., Sydney, reports for year ended June 30, 1943, net profit £58,488. After payment of dividend of 6 per cent, per annum, amounting to £35,603, a balance of £22,885 with balance brought forward of £42,804, making £65,689, has to be dealt with. From this taxes £41.690 are deducted, leaving £23.999. The directors attribute reduction in profit for the year to an adjustment of rents consequent upon completion of rental arrangements with Woolworths Ltd., and to the company’s proportion of war-time (company) tax now being borne by Woolworth* Ltd. Reserves are used entirely In the busir.ens. Properties are maintained in goo 4 order and condition. BROKEN HILL PTY. The total net profit of Broken Kill Pioprietary and ito subsidiaries for the year ended May 31 was £885,750, compared with £881,139 for 1941-42. It is struck after providing £59,000 more for depreciation and £581,000 less for taxation. Continued steep risen in costs were partly offset by an increase in the price of products made with official approval, in October.