MORRIS, HEDSTROM
INCREASED PROFITS
Morris, Hedstrom, Ltd., Suva, Fiji, island merchants, discloses a net profit of £70,384 for the year ended March 31, compared with £53,511 for the previous year. Gross profit is £43,893 higher at £193,499. Ordinary dividend is raised to 5? per cent, from 5 per cent. (2£ interim and 3i final) and requires £29.923. Preference dividend of 6 per cent, absorbs £13,152. An amount of £20,000 is transferred to general reserve, making that account £100,000. With £54.764 brought forward, there is carried forward £62,072. Higher values of merchandise . and of produce held denote not only heavier stocks for better trade, but higher prices. Debtors are substantially lower, showing the improved position of the company's customers. The reduction in the item, "shares, debentures, and mortgages," of £29,07.7, if it relates principally to the two latter sub-items, has the same significance as the reduction in trade debtors.
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https://paperspast.natlib.govt.nz/newspapers/EP19370609.2.160.20
Bibliographic details
Evening Post, Volume CXXIII, Issue 135, 9 June 1937, Page 14
Word Count
148MORRIS, HEDSTROM Evening Post, Volume CXXIII, Issue 135, 9 June 1937, Page 14
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