NATIONAL TOBACCO
DRAWING ON RESERVES
The balance-sheet figures to October 31 1938, of The National Tobacco Company, Ltd., Napier, show that the share capital has been increased from £134,341 to £164,341 by the issue of 30,000 ordinary shares of £1 each. The reserve, including £30,000 received from these shares, now stands at £155,000. Property, plant, and machinery at £19,056, have increased by £8812 including cost of a new bonded store Stocks of raw leaf, manufactured tobacco, and materials at £119,376 are higher by £13,769. Advances on purchases at £18,442 are higher by £6000. Cash on hand and at the bank at £57,337 has increased by £14,181. After deducting all charges, writing off £3945 5s 8d for depreciation on buildings and plant, and allowing the sum of £650 for income tax, there is a balance left of £2723 Os 4d, which represents the net profit for the year. To this must be added the balance of £7220 2s 8d brought forward from last year, making a total ,of £9943 3s available for distribution. Out of this the directors recommended distribution of the usual 8 per cent, dividend on preference shares, to use the remainder towards the payment of a 10 per cent, dividend on the ordinary shares, and draw upon the reserves for the deficiency.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19381205.2.143.23
Bibliographic details
Evening Post, Volume CXXVI, Issue 135, 5 December 1938, Page 12
Word Count
214NATIONAL TOBACCO Evening Post, Volume CXXVI, Issue 135, 5 December 1938, Page 12
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