GENERAL MOTORSHOLDEN'S
General Motors-Holden's, Ltd., has issued a report for. the sis months ended December 31,. with the object of bringing the company's financial year in line with the calendar year. The directors state that the consolidated operations worked at a net profit for the concluding months of last year. Losses made in July and August were ■so • reduced as to show a loss for the six months of £2721, compared with . losses of £77,661 for the period January to June, 1932, and of £272,252 for the period July to December, 1931. Reserves for depreciation of real estate, plant, and equipment have been provided for at the usual rates, and the directors are of opinion that ample provision has been made for possible losses in inventory, book debts, etc. They 'state that the general reserve is more than is necessary to provide for los3 on any revaluation of fixed assets, and recommend the transfer of £34,109 to profit and loss account, leaving a balance of £110,961 in reserve, and reducing the debit to £464,140. No dividend is recommended, i
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Bibliographic details
Evening Post, Volume CXV, Issue 73, 28 March 1933, Page 10
Word Count
179GENERAL MOTORSHOLDEN'S Evening Post, Volume CXV, Issue 73, 28 March 1933, Page 10
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