PROFIT FROM POWER
WAITEMATA’S GOOD YEAR RESERVE FUND INCREASED The financial returns presented at the meeting of the Waitemata Elec-tric-Power Board this morning show that the gross sales of current fo.r the month of March amounted to £7.826 os lid, compared with £6,204 19s 6d for the corresponding month of last year, an increase of £1,621 6s sd. The total gross sales of current tor the year ended March 31, 1929. amounted to £64,900 9s 9d, as against £51,289 Is 9d for the year ended March 31, 1925, an increase of £13,611 Ss. Discount allowed to consumers for the year totalled £7,255. After paying all working expenses and capital charges for the year, the board has made a net profit of approximately £ 7,000. The working expenses of the board this year have been reduced from 55.7 per cent, to 48.6 per cent—a reduction of 7.1 per cent. The board now has reserves of £42.272, compared with £25,667 as at March 31. 3 928—an increase of £16.605. During the year a general reserve fund was established, and £IO,OO worth of Government inscribed stock at 5* per cent, was purchased. The chairman. Mr. W. J. Hayden, said this morning that the position was highly satisfactory.
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Bibliographic details
Sun (Auckland), Volume III, Issue 632, 8 April 1929, Page 10
Word Count
203PROFIT FROM POWER Sun (Auckland), Volume III, Issue 632, 8 April 1929, Page 10
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