TRUTH (N.Z.), PROFIT
Net profit of Truth (N.Z.), for the year ended September 30 was £5717, an increase of £1341. The result is reached after providing £1443 for depreciation, against £1490, and £7508 for taxes, against £5192. From the year's earnings arrears of preference dividends at the rate of 5.6 per cent, for the year to September 30, 1944, have been paid. This absorbed £2BOO. In addition a book loss of £7913 incurred on two properties sold during the year was written off against accumulated profits, leaving £9443 to be carried forward, against £14,439 brought in. The annual meeting was held at the Sydney office of the company on December 23. Shareholders’ funds amount to £164,145 and current liabilities to £24,794. There is a contingent liability of arrears of dividends on 50,000 £1 cumulatve preference shares. «
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Wanganui Chronicle, 28 January 1948, Page 3
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136TRUTH (N.Z.), PROFIT Wanganui Chronicle, 28 January 1948, Page 3
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