COLONIAL SUGAR COY. PROFIT 1¼ MILLION
SYDNEY, June 2. A record net profit of £1,241,594 is shown in the accounts of the Colonial Sugar Refining Company Ltd., for the year ended March 31. The result is an increase of £78,031 on the 1947 figure, the previous record, and was reached after providing £434,654 for depreciation, against £420,268, and after making all other charges. The directors propose a final dividend of 18s a share, equal to 4i per cent., making, with the interim dividend of the same rate, 9 per cent, for the year, compared with Si per cent, in the previous year. The dividend requires £1,053,000. The directors propose to add £75,000, against £50,000 last time, to the reserve account, which will bring this fund t<? £1,325,000. The balance of . profit, amounting to £113,504, remains to increase the carry forward to £477,819. ■
The directors report, that the sales of refined sugar in Australia attained a record. Any shortage of supplies was due to intermittent arrivals of raw sugar from Queensland and shortage of manpower and coal.
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Grey River Argus, 3 June 1948, Page 5
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176COLONIAL SUGAR COY. PROFIT 1¼ MILLION Grey River Argus, 3 June 1948, Page 5
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