SANFORD, LID.

Sun (Auckland), Volume II, Issue 386, 21 June 1928, Page 14

SANFORD, LID.

NET PROFIT OF £9,172 A net profit of £9,172 is disclosed in the annual report and balance sheet of Sanford, Ltd., for the year ended May 31, 19 28. This, with £3,402 brought forward from last year, leaves £10,574 available for distribution. An interim dividend at the rate of 31 per cent, paid in December of last year absorbed £4,375. A further dividend, making 7 per cent, for the year, is recommended. This will leave £1,824 to be carried forward. The directors’ report states that the company’s operations over the past year have registered a further advancement, and although the coming year does not show promise of any marked improvement, the directors hope to record even further progress when the year closes. During the past year the company extended its sphere of activities to Wellington, where it acquired the City Fish Supply Company. Since the year closed, states the report, the Thomas Bryan, one of the company’s trawlers, was lost near Cape Colville. The vessel was Insured for £6,00e. The retiring directors are Messrs. A. F. Jagger and E. H, Davis. Both offer themselves for re-election. The balance sheet discloses sundry creditors at £9,617; liability to National Bank, £13,897. Among the principal assets are plant, buildings and machinery at the Freeman’s Bay works. £66.014; freehold and leasehold properties, £15,002; trawlers, £20,850; mortgages and investments. £38.316. The company has paid a steady 7 per cent, over tlie past four years. Profits over the period have been as follows: 1924-25, £2,SOS; 1925-26, £II,SIS; 192627, £ 11,3 7S, 1927-28, £9,172.