COMPANY AFFAIRS

Wanganui Chronicle, Volume 88, Issue 145, 19 June 1944, Page 1

COMPANY AFFAIRS

HILL & PLUMMER PROFIT The itfeounti of Hill and Plummer, Limited. Auckland, for the year ended April 30 fihow a net profit of 3CG054, compared with £4632 in the previous year, and £5904 in 1942. _ Gros:; profit wag £29,189, against £32,878 last year. There is £22,495 available, and the director* propose a final dividend of 4 per cent., which, with the interim dividend paid in November, makes 7 per cent, for th? year, compared w’.th per cent, last jear. The rejKirt slates that business hes been well maintained and sales have increated. ♦ HUME STEEL, LTD. The directors of Hume Steel, Limited, in, an interim report, *tato that business has been well maintained. but difficulties ot manpower and transport and of higher cost of production have increased. They expect a trading profit for the current year which should be satisfactory in the circumstlTlcw. GORDON AND GOTCH Gordon and Gotch (A'asiu), Ltd., made a profit of £52,220 for the six months to March 31, and £101,558 for the year, compared with £78,96s for the previous 12 months. The trading profit amounted to £312,207 (£227,139 in previous year), income from investments £8424 (£8117), and income from a subsidiary £1950 (£3090). This year’* profit is struck after providing an undisclosed amount for taxation, and allowing £19,699 for depreciation (£18,141). A dividend on preference shares of 8 per cent, absorbs £BOO9, and a dividend on ordinary shares of 161 per cent. (13 per cent.) require* £83,750, while £45,000 i( transferred to contingencies resene (nil). Carry "fonvard is £1263, against £36,455 brought in. The balance-sheet showe current liabilities at £429,022 (£306,888), acai nut, which there are current assets of £1,080,922 (£964,093). The paid up capital is £600,090. GOLDSBROUGH MORT PROFIT Goldshrough Morl and Co., Ltd., report a net profit for the year ended March 31. after providing £53,077 for depreciation, of £196,‘307. The sum brought forward last year was £167,869, making £364,676 available. An interim dividend of 2 per cent, \vn* paid last December, absorbing £48,000, and the directors rieommend a final dividend of 4 per cent, payable at Melbourne, absorbing £96,000 and making a total distribution of 6 per rent, for the year, an unchanged I rate. Provision for deferred maintenance it I £40,90\), Raving a balance to be carried fonvard of £180,676. NATIONAL DAIRY ASSOCIATION The annual report of the - ' National Dairy Association for the year ended March 31, its golden jubi ' e, : nows a credit balance of £390. The directors have declared a rebate of 7J per cent, on purchases of dairy factory requisites and machinery (excluding rennet) and 5 per cent, on merehandi*, which involves a sum of £9891. The report elates that the total value, for Custom* purpose.-, of all dairy produce exported for the year ended March 31 wan £24,013,294, a decrease of £5,080,466 over the pie. . ding year. Butter was valued at £15,487,668 and cheese at £(,974,547. The final export grading figures showed a butter production of 106,947 tons, an increase cf 3621 tons over the previous year, and cheese production 96.837 tons, a drop of 56,237 tons. Converting these figure* into a buttertnv equivalent, there was a decrease of 12.52 p?r rent. A review of quality tshows that 83.66 per cent, of graded butter was of the finest quality, and 16.03 per cent, as first grade. Cheese quality was also well maintained. Of the 85,109 tom received for grading 21.43 per cent, was graded as finest, and 74.2’! per eent. as fiivt grade. The average payout per lb of butterfat vaa 18.577 d for ch:’esen:aking < 1'.'.»25d last jear), and 1G,569d for buttermaking (16.V17d). BANK OF N.Z. The accounts of the Bank of New Zealand for the year ended March 31 show a net profit of £353,410. connvared with £389,435 la*t ye:;.’. To this is added tha balance brought forward of £383,559. The dividend on pr?ferenoe A shares and interim dividend* totalling £196,533 have been paid, leaving for uistribution £570,435. As already announced the directors propose a dividend on C long-term mortgage share.' of 6 p.r cent, per annum, and on the D longterm mortgage share* of 7 4 per cent, per annum, reducible in each case by Id for every 8d or part thereof on account of security charge*; also on preference B and on ordinary sluifer, 4 per cent., making 7 per cent, for the yeai These' payments requirt £196,533, having a balance of £373.902 to be carried forward. lie*ults for the past two veait* are:--

1942-43. 1943-44. Gross profit 1.881,022 1,893,33® Salaries 559.053 551,773 Other ex’s . 201.772 ISO 244 Rates and taxes .. . 739,762 777.1'01 ■ 1 ■ — —— . ,. Net profit . 380.436 383,410 Brought forward . • . 396,199 383,559 Dividends — 776,625 766,961 Mortgage capital Banking capital 43.0G6 43.061 Government .. . 87.500 87,504 Ordinary . 262.500 262.506 1 Rato per rent. .. 7 1 — — — . ! 1 ■ . Carried forward •« . 383,559 87 3.901