N.P. Gas Company

Taranaki Daily News, 27 August 1942, Page 4

N.P. Gas Company

In presenting his report on the annual statement of accounts and balance-sheet, the chairman of the New Plvmouth Gas Comnany, Mr. F. S. Johns, said the position of the company this year was greatly imnroved The proflt and loss aecount showed a proflt for the year of £516, and on a comparative basis was ai- improvement ot £2246 on the year cnded June 50, 1941. This was partly attributable to a substantial increase in revenue amounting to £1292 and to the considerable saving in maintenance. The averagc annual depreciation for the past five years was Krcater by £1-185, compared witii the year 1937, and on a comparatife basis this disciosed that had this year's depreciation been charged as in the year 1939 the proflt would have been £2316. The result of this year's operations showed that the maintenance programme commenced in 1938 was now np-to-date. Mr. Johns said the improved position ot the company had been achieved in spite of the fact thnt the rchabilitation of the manufacturlng and distribution plant was undertaken coinrident with rising prices. the 40-hour wpek and the outbreak oi war. Applianccs sold during the year were 152 cookers. 76 watcr-heaters, 4(5 heaters. pius the installation of a completc cooking unit at the nurses' home, and a eentral Ueating unit in the State Advanccs Corporatlon new olllces. The increase in gas consumption was 2,00.0,000 cubic feet. One bed of rctorts had been renewed and six new mouth-pieces installed, while thp remaining four beds of retorts had been overhauled. The company's revenue for the year reaehed a new higli level of £21,270, an increase of 31 per cent. in the past four years. The retiring directors. Messrs. \Y. C. Weston and A. R. Stand ish, were re-elect-ed, and Mr. A. J. Tunbridge was re-clected auditor.