HUGE PROFITS
BY OIL COMPANY. (Australian Press Association.) CANBERRA, Aril 23. Huge profits have been made bv the Shell Oil Coy., consequent on the high price of motor spirit in Australia. This is revealed in a report submitted to the Federal House of Representatives by a special investigating staff appointed by the Government. The report, states that the Shell Coy’s net profit for 1928, which was the last available balance sheet, was £978,431, including a payment of £602.860 to the Asiatic Petroleum Coy. This equalled eight point seven per cent of the turnover, and forty-nine point nine on the paid up capital of two millions. The Vacuum Oil Coy. declined to make available its profits and loss account, as the company handled other lines besides petrol. The inquiry officers ascertained that the Shell Coy’s distributing costs were unduly high.
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Hokitika Guardian, 27 April 1931, Page 6
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139HUGE PROFITS Hokitika Guardian, 27 April 1931, Page 6
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