SUGAR PROFITS

Hokitika Guardian, 31 October 1929, Page 6

SUGAR PROFITS

-V * '.7 ..,V ; " AN ENORMOUS -.United Press Association—By Elepriq Telegi -*ph—Copyright).' .; SYDNEY, Oct.. 30. The 'half-yearly.trepprt.;of.the, Colonial Sugar Refining Coy. Ltd., was issued to-day. It revealed that the. sum earned from the Coy’s trading and investments during the last half year amounted to £465,493. Of this £265,747 was made from the Australian mills and refineries, • and the remainder, £199,746 from New Zealand and. Fiji, which is not subject to the Federal income tax. The Board proposes to pay a dividend of 20s, per share, which will absoYK'£36s,62s. ; The amount'left to the credit- of the profit and loss account is £410.776. ' " ' The report states that there has been no increase 'in the consumption qf sugar either in Australia or New Zealand. The total output of sugar for the six months is about six hundred thousand tonfe. The prospects for the 1930 crop we're not .so far favourable. The report- adds: Presumably no action will be. ; taken in' England concerning tlie proposed. abolition of the sugar ‘duties until tlie whole question is fully considered, but the, loss of the preference allowance would he a serious tliipg for the sugar producers of Australia, while any alteration in Canada, similar to that suggested in Britain, would be sorely felt in Fiji.