AUSTRALIAN NEWS.

Hokitika Guardian, 5 May 1927, Page 1

AUSTRALIAN NEWS.

SUGAR PROFITS. SVDNF.V, May I. At tlu* lialt'-voarly meeting of the Colonial Sugar Refining Company, the report, which was adopted, showed the profits for the six months ended 31st March last. The profits from the Company’s Australian mills and properties were £277,210 for the half-year. The earnings of the Company's New Zealand. Fiji, and other investments for the six months totalled £l4 7,143. From this it was proposed to pay a

dividend of 20s per share, and also a bonus of 5s pel share. These would absorb the sum of £304.087. leaving £110.005, to which there was to he added an accumulated balance of £310.809. thus making a total of £430.474, from which it is proposed to place £IOO,OOO to the reserve.

The report anticipated that the coming season would give an average outturn of sugar. No important additions were under consideration lor either the refineries or the cane mills.

The meeting also adopted a resolution that £075.000. forming a part of tlu* Company’s undivided profits standing to reserve should he capitalised, and transferred to the share capital in the form of 48,750 fully paid up twenty-pound shares, to he given pro rata among the shareholders on tho register on the Ist of April last, in tho proportion of one new share for every five shares already held.