BRUCE WOOLLEN COMPANY

Shannon News, 8 November 1927, Page 4

BRUCE WOOLLEN COMPANY

i ■ A TRYING YEAR. A loss of £1567 on trading operations for the year ending September 19 is shown by the Bruce Woollen Manufacturing Co., Ltd., which contrasts with a net profit of £9056 last, year. The report states that the past year has been a particularly trying one for the directors, owing to its being largely a year of. reorganisation, coinciding with a period of general business depression. The gross profit; for the year was £16,357, as compared with £26;801 in the previous year. The expenditure totalled £17,924, against £17,745. As £1605 was; brought forward from the previous year, the loss of £1567 deducted from this leaves a balance of £3S to be carried forward. The capital of the company is unchanged at £IOO,000, but the directors by the authority of the shareholders are issuing the unallotted 50,000 shares of £1 each as cumulative preference shares bearing interest at. 7 per cent. Outstanding accounts at £6692 are £l2B larger than last year. Income tax reserve, which stood at £3840 last year, is now down to £1669: deposits at £12,839, show a reduction of £7420. Bank overdraft has increased, arid’ at £86,176, is £20,579 larger than was shown in last year’s balance-sheet. The dividend equalisation account is unchanged at £SOOO, brit the reserve account at £12,000 is up £IOOO, this amount having been added out of the profits of last year. The plant valuation stands at £89,662, against £91,813, and premises account at £34,884, against £34,735. The book debts, at £24,996, are only £3 more than they were last year. Stock totals £69,462 against £66,345. and advances on workers’ homes £5221, against £5803.