MOSGIEL WOOLLEN
HIGH COSTS AND TAXATION
(By Telegraph.) (Special to the "Evening Post.")
DUNEDIN. This Day.
"This year, owing to increased production, we have been able to show a i profit in excess of that of 1938, and [this would have been larger but for high costs and restrictions," said Mr. J. S. Hislop, chairman of directors of the Mosgiel Woollen Factory Co., Ltd., at the annual meeting of the company yesterday.
"What effect present conditions will have on our business, it is hard < to say," continued Mr. Hislop, 'but we hope, in spite of further restrictions and ever-increasing costs of production, that our operations for t 939-40 may be favourable to shareholders."
The profit and loss account showed a net profit of £12,293, this being an improvement of £1394 on that of last year, although goods account it £46,143 is an increase of £9465 on that of 1938. This is practically offset by the increase in two overhead groups on the debit side, and greater provision for taxation is the major factor in this increase.
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Bibliographic details
Evening Post, Volume CXXVIII, Issue 118, 15 November 1939, Page 12
Word Count
176MOSGIEL WOOLLEN Evening Post, Volume CXXVIII, Issue 118, 15 November 1939, Page 12
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