AUCKLAND GAS COY.

Sun (Auckland), Volume I, Issue 263, 27 January 1928, Page 12

AUCKLAND GAS COY.

PROFITS AMOUNT TO £88,327 DIVIDEND OF 8 PER CENT. Profits on the year’s operations amounting to £88,326 14s lOd are shown in the report. of the Auckland Gas Company, .Ltd., for the year ended December 31, 1927. This amount has been arrived at after deducting working expenses, cost of repairs and renewals, management expenses, interest, bad debts, depreciation, and other charges. The report states that, with the balance at credit of profit and loss, £39,319 15s 2d, after deducting the amount of the interim dividend, £43,086 11s lid, paid on July 31, 1927, a balance of £84,559 18s Id is left to be dealt with. The directors recommend the payment of a dividend for the past half year at the rate of 8 per cent, per annum, leaving £40,296 8s 9d to be carried forward. The working account shows the cost of manufacture, including repairs and maintenance of works, £223,764; distribution of gas, £69,122; management, rates and taxes account for £26,794, and the sum of £IB,OOO is written off for depreciation. Sales of gas are shown at £395,658; sales of residuals, fittings, etc., £77,133; interest on war loans and debentures, £1,716. The company’s profits have been giadually creeping upwards over the past three years though, to a great extent, this has been absorbed by the in crease in capital. The following table gives a comparison of results for the oast three years, when the rate of dividend has remained steady at 8 per cent the increasing aggregate payment, however, corresponding with the increment of contributing share capital.

1925. 1926. 1927. Brought forward . 37,452 Net profits .. . Dividends 79,305 78,283 83,393 82,556 881327 87,350