HARLAND AND WOLFF LOSSES.
A trading loss of £118,177, .without provision for depreciation, was incurred in 1932 by Harland and Wolff, shipbuilders, one of the Royal Mail group. A sum of £100,000 was transferred- from reserve, and a tax refund of £57,126 credited to profit and loss. After crediting a small investment income, a credit balance of £47,058 is carried forward, against £7136 last year, when £50,000 was taken from contingencies account. The shipbuilding and marine engineering output from British shipyards in 1032 reached a low record, and in this respect, the board say, the company's figures reflect the position of the industry as a whole.
As interest on deferred creditors' certificates to be issued or deemed to be issued by the company is payable only out of net earnings, no amount in this respect has been debited in profit and loss account. The policy of disposing of any properties surplus to the company's requirements is being continued. Amounts realised in 1932 were £38,322 less than the book values. Tliis sum is shown in the balancesheet pending a capital reorganisation.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19330825.2.157
Bibliographic details
Evening Post, Volume CXVI, Issue 48, 25 August 1933, Page 10
Word Count
180HARLAND AND WOLFF LOSSES. Evening Post, Volume CXVI, Issue 48, 25 August 1933, Page 10
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in