McLEOD BROS., LTD.
FINAL DIVIDEND DECLARED The annual meeting of McLeod Bros., Ltd., was held yesterday. The chairman, Mr L. C. Hazlett, reviewed the accounts for the year, and stated that the net profit for the year was £15,680 after providing for the necessary depreciation and making provision for income tax. While the sales showed an increase over (hose in 1946 the net profit represented a reduction of £4374 from last year. “ The accounts of the company,” staled the chairman. “ are in a sound and healthy condition. ” The company will, at the beginning of 1948, be moving into the new building on the corner of Cumberland and St. Andrew ftreets for the expansion of the toiletry side of the business and new plant had been acquired for this extension.” A final dividend of 4 per cent, for the half-year ending September 30 was recommended. The motion for the adoption of the report was seconded by Mr J. G. Dykes who commented on the soundness of the company and the excellent manner in which the accounts were issued to shareholders. Messrs Brodrick and Chalmer were reelected auditors.
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Otago Daily Times, Issue 26639, 9 December 1947, Page 7
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186McLEOD BROS., LTD. Otago Daily Times, Issue 26639, 9 December 1947, Page 7
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