STATE’S MAJOR SHARE
MEAT FIRM’S PROFIT
EQUAL TO 10/6:1 IN £
(For Press Association.) WELLINGTON, this day
“The sharing of profits as between the company and the Government has resulted in the Government taking £655 more than our share,” declared Mr. David Allan, chairman of directors at the annual meeting of shareholders of the Wellington Meat Export Company. The taxation payable was £7239, or £IOB4 more than last year and represented 53 per cent of the assessable income or 10s fiijd in the £.
The company’s net profit of £GGB4 was £279G less than last year. “It was proposed to pay a preference dividend, leaving the balance or £1426 to be applied in reduction of tlie debit balance in the appropriation account. The directors were still of the opinion that it would be unwise to consider the question of dividends to ordinary shareholders until that debit balance was extinguished. The report and balance sheet were adopted.
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Bibliographic details
Gisborne Herald, Volume LXVI, Issue 20108, 30 November 1939, Page 7
Word Count
154STATE’S MAJOR SHARE Gisborne Herald, Volume LXVI, Issue 20108, 30 November 1939, Page 7
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