NIKAU BACON LOSS

Wanganui Chronicle, Volume 83, Issue 44, 22 February 1939, Page 10

NIKAU BACON LOSS

RECORD TURNOVER OFFSET A loss of £lOB5 is shown in lhe ac accounts of the Nikau Bacon Co Limited, for the year ended Decemhe 31. This compares with a profit o £2730 in the previous year and £2ooi in 1936. It is the first loss the com pany has ever incurred. No dividend are recommended. In 1937 8 per cenl was distributed on both preferenc and ordinary shares, total capita amounting to £22,500. The directors point out that recon figures for sales were obtained. A sur vey covering the Dominion disclose that 1938 was the worst period th bacon industry has experienced fo the past 15 years. The vicissitudes o the meat industry during the year hac through its widespread ramifications a substantial influence on the bacoi industry, while other conditions deter mined to a very marked degree th inability of the trade to maintaii generally satisfactory margins to mee constantly increasing production an labour costs. The directors add tha the company's position is very sound and they face the future with ever; confidence.