Petrous Tile Company’s Lower Profit
DUNEDIN, Last Night (PA).— A net profit of £1941 10s, after providing £1555 Ils 8d for taxation, is reported by the Petrous Tile Company Ltd. Including £5542, which was carried forward from last year, the company’s profit and loss account shows a total credit of £7484, and the directors have recommended payment cf a dividend of 7i per cent., which will absorb £l5OO, leaving a balance of £5984 to be carried forward. Sales for the year were a record, but the net profit was lower than last year. After providing £5469 for depreciation and meeting non-recurring expenditure to finance expansion of the company's activities, the directors are seeking the sanction of shareholders to increase the company’s capital to £500,000.
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Wanganui Chronicle, 4 November 1949, Page 6
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124Petrous Tile Company’s Lower Profit Wanganui Chronicle, 4 November 1949, Page 6
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