SEASON REVIEWED

Bay of Plenty Beacon, Volume 11, Issue 72, 27 August 1947, Page 4

SEASON REVIEWED

OPOURIAO DAIRY COMPANY CHAIRMAN’S REPORT In his annual report to the meeting of suppliers to the Gpouriao Dairy Company the chairman, Mr W. L. Richardson, stated as under:— In respect of the year ended 30th June 1946, the estimated season average payout per pound of butterfat (all grades) which was quoted in the annual report for that year was 18.90 pence per pound to suppliers of milk and 16.09 pence per pound to suppliers of-cream. The actual season average payout which was finally made was 18.89 pence per pound and 16.09 pence per pound to suppliers of milk and cream respectively. In respect of the y.ear just closed, the stocks of dairy produce for export unsold at balance date have been valued at the present guaranteed price less estimated charges and the stocks for local consumption have been at the present wholesale market price less due allowance for charges. The amount available for distribution on this basis will provide a further payment of 3.00 pence per pound over the whole season for suppliers of milk and 4.00 pence per pound for suppliers of cream, making the season average payout over all grades 18.82 pence per pound tc suppliers of milk and 16.79 pence per pound to suppliers of cream. Farm cost allowance of 3.904 pence per pound on 18,778 pounds butterfat and 5.185 pence per pound on 858,774 pouhds butterfat has been claimed and paid out to suppliers. This payment has been made in addition to the advance payout of 15.82 pence per pound cheese and 12.79 pence per pound cream.

It is recommended that no dividend be paid on the Share Capital of the Company.