SHANNON CO-OP. DAIRY COMPANY.

Manawatu Herald, Volume XLIX, Issue 3823, 26 July 1928, Page 2

SHANNON CO-OP. DAIRY COMPANY.

ANNUAL REPORT,

The report to be presented by the Directors of the Shannon Dairy Company at the annual meeting on Saturday, August 11th, is as follows :

Your Directors have much pleasure in presenting for your consideration the Twentieth Annual Report and Balance-sheet, for the ' year ended 30th June, 1928. The result for the year’s working is very satisfactory, and shows an increase both in butter-fat payment and production, over last year.

The amount of butter manufactured for the year was 814 tons 1 cwt. 1 qr. 10 lbs., being the highest output to date and an increase over last year of 51 tons 6 cwt. 2 qrs. 5 lbs. ' The average monthly payment for butter-fat was 16.635 d. Provision has been made in the balance " sheet for a further payment of lfd per lb. on the season’s supply, bringing the payment for butterfat for the year to 18.385 d. The average grade Avas 94.26, all butter being of finest grade. The store business shows a slight increase in sales and a nett profit of £912 on the year. The .amount to credit of Profit and Loss Account as shown on the balance sheet is £2631 6s >6d. Out of this amount your Directors propose to pay the usual 6 per cent, dividend and carry the balance forward. Messrs J. Chrystall and R. L. Tippler are the retiring Directors and offer themselves for re-elec-tion.