BURNS PHILP, LTD.
NET PROFIT OF £229,657 A moderate increase is shown in the net profits of Burns, Philp and Company, Limited, for the year ended March 30. These profits were £229,657, as against £221,612 the previous year. The dividend is unchanged at If) per cent., including interim dividend. The half-yearly distribution was paid for the first time last year. With £75.000 transferred to reserve fund, that fund is increased to £725,000. There is carried forward £24,743, against £20,056 brought into tho account. The profit and loss account shows that gross profits increased by £29,559, working expenses by £13,323, and the amount allowed for depreciation by £ 5,220. The report states that merchandise operations were more than maintained during the year, but unfortunately the improvement gained under this heading was counterbalanced to some extent by continued shrinkage in shipping earnings between Australia and the Islands, an cl in commissions in shipping agencies held by the company. It is proposed to improve further the company's Eastern and Island services by the building of one or more new arid modern vessels. Plans are in course of preparation.
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Sun (Auckland), Volume III, Issue 656, 7 May 1929, Page 10
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184BURNS PHILP, LTD. Sun (Auckland), Volume III, Issue 656, 7 May 1929, Page 10
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