WAIHI MINING COMPANY

Sun (Auckland), Volume IV, Issue 955, 24 April 1930, Page 13

WAIHI MINING COMPANY

NET PROFIT OF £85,870 A net profit of £85,870 is shown in the report of the year’s workings of the Waihi Gold Mining Company, Limited, compared with a net profit of £85,560 in the previous year. Cabled advice on the results for the year ended DecerAber 31 last has been received from the head office by Mr. Charles Rhodes, local director and attorney. The balance of the revenue account from 1928 was £18,569. The gross profits, after bringing in a special amount of £12,541 obtained bv the reduction of bullion in process «jr treatment, amounted to £117,482 Taxes totalled £24,324, depreciation £7,288 and the interim dividend absorbed £ 49,591. The balance remaining was £54.848. out of which the directors recommend the payment of a final dividend of Is a share, free of tax. which will absorb a further £49,591, leaving a balance of £5.257 to be carried forward. The annual meeting will be held in London on May 8 and the dividend will be payable on the following day. Following is a comparison of the company’s results and appropriations for the last three years: 1927. 1925. 1929. Gross profit . . £136,405 £116,824 £117,982 Taxation .... 24,533 23.347 24,324 Depreciation . . 5,550 7,917 7,288 Balance. . . . £103,321 £85,560 £85,870 Brought forward 3,255 32,190 15,569 £106,576 £117,750 £104.439 Dividend .... t 2s 2s Amount .... 74,356 99.151 99.152 Carried forward £32,190 £18,569 £5,257 •(Interim dividend of Is on 495,907 shares and final dividend of Is on 991,914 shares of 5s each.