Colonial Sugar Refining Company Accounts
AUCKLAND, Last Night (P.A.)— The Colonial Sugar Refining Co., Ltd., Sydney earned a net profit of £1,26,762 for the year ended March 31, against £1,241,504 last year, when the earnings were a record. A bonus of li per cent, is added to the year’s unchanged dividend of 9 per cent., making a total distribution for the year of 101 per cent. The dividend and bonus together absorb £1,228,500, and an unchanged amount of £75,000, is placed to reserve with £123,806 provided in previous years, and no longer required. The carry forward is increased by £172,932 to £504,887. The directors state that sugar sales in Australia were again a record and in New Zealand were up 8 per cent, on the average for the previous three years. Any shortage of refined sugar was due to manpower, shipping, and coal difficulties, and in New Zealand also to a hiatus in orders prior to price reduction.
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Wanganui Chronicle, 31 May 1949, Page 2
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158Colonial Sugar Refining Company Accounts Wanganui Chronicle, 31 May 1949, Page 2
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