ASSOCIATED NEWSPAPERS, LTD.
Associated Newspapers, Ltd.. Sydney, discloses a net profit of £236,920 for ■the year ended September 24, compared with £242,460 for the previous year and £238,365 for 1937. The, net result is reached after providing £75,145 for taxation, against £54,708 in the preceding period. Preference and ordinary dividends,, both unchanged at 7 p_er cent., together require £179,452. The directors state that, to meet the expressed wishes of shareholders, they propose that the goodwill and establishment' item should be reduced from £1,682,921 to £1,500,000. It is proposed to transfer the newsprint cost equalisation, reserve of £20,000 to general reserve, making, with the year's allocation," a total of £307,921 in that account, and to transfer from general reserve £182,921 in reduction of goodwill. Stock and capital expenditure -amounting to £335,011, has resulted in the bank overdraft increasing from £72,907 to £228,762. The liquidation ."'of the subsidiary companies has been 1 "completed except for a small taxation -liability not yet assessed.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19391114.2.123.2
Bibliographic details
Evening Post, Volume CXXVIII, Issue 117, 14 November 1939, Page 12
Word Count
160ASSOCIATED NEWSPAPERS, LTD. Evening Post, Volume CXXVIII, Issue 117, 14 November 1939, Page 12
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