FARMERS' MEAT COMPANY.

Taranaki Daily News, 13 August 1920, Page 4

FARMERS' MEAT COMPANY.

A SUCCESSFUL YEAR. (DIVIDEND OP EIGHT PEE CENT. Shareholders in the Taranaki Farmers' Meat Company, Ltd., will have no cause for complaint with the result of the past year's operations. After meeting all charges, making ample provision for renewals and depreciation, the profits for the year amounted to £Sm, and with the £897 carried forward from the previous year there is for appropriation a sum of £BBI7. It is proposed to pay a dividend of eight per cent., which'will absorb £6805, and carry forward £3012. In other words, the company could have paid 12 per cent., but is. wisely making provision for the future. The need for the establishment of the works may be judged from the fact that in 1918 the sheep handled numbered 67,079, whilst last year the number was 92,612; lambs increased from 17,565 to 18,381; and cattle from 6,561 to 12,011. The amount written off for depreciation for the past year was £6,500. The amount of subscribed capitafis £86,905. The directors, in the annual report, state: "During the busy months of the season just ended it was found that the company was unable to handle all the stock offering, and your directors decided to make additions to the freezing plant, which are estimated to increase the capacity by about 30 per cent. It is hoped that this additional plant will bo installed in time_ for next season."

Altogether the company, has every reason to be satisfied with the progress made during the past three years and the earnings of the past year.