HOWARD, SMITH, LTD.
Slightly Lower Profit The accounts of Howard Smith, Limited, investors in shipping and coalmining, Melbourne, show a net profit of £141,821 for the year ended December 31, a decrease of £4252. The directors have transferred £30,000 to reserve, increasing the fund to £391,502. Preference dividend of 6 per cent, absorbs £15,000, and the unchanged ordinary dividend of 5 per cent, for the year takes £lOO,OOO, leaving £21,421. to be carried forward, against £24,600 brought in. Results for the last:-three years cotn-
The report expresses satisfaction with the year’s results, particularly in view of the effect on the company’s earnings of the coal strike and the loss of the steamer Saros. No dividends were received from investments in coal. The capital of the company is £2,250,000.
pare as follows: — , 1936. 1937. 1938. £ £ £ Brt. forward 20,877 18,527 24,600 Net profit .. 97,649 146,073 141,821 £118,526 £164,600 £166,421 To reserve .. 10,000 25,000 30,000 Dividends — Pref., 6 p.e. 15,000 15,000 15,000 Ord _ 3 .4 i) t) Amount ... 75,000 100,000 100,000 Carried fwd. £18,527 £24,600 £21.421
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Dominion, Volume 32, Issue 151, 22 March 1939, Page 14
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173HOWARD, SMITH, LTD. Dominion, Volume 32, Issue 151, 22 March 1939, Page 14
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