PROFITS REDUCED
TAUPO TOTARA TIMBER COMPANY DIVIDEND RECOMMENDED (By Telegraph.—Press Association.) AUCKLAND, Wednesday Considerably lower net profits were earned during the year ended April 30 •by the Taupe Totara Timber Company. The total was £5553 compared with £15,015 for the previous year. The dividend on ordinary shares Is reduced from 6 2-3 to 4 per cent. Tho directors slate that although the demand for timber lias continued and sales increased, higher wages, reduced working hours and extra taxation have cut heavily into the profits. They, however, fe'cl Justified in recommending a dividend on ordinary shares as with a new mill in operation they hope to increase 1 lie ne'l profits during the current year.
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https://paperspast.natlib.govt.nz/newspapers/WT19370826.2.38
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Waikato Times, Volume 121, Issue 20282, 26 August 1937, Page 7
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114PROFITS REDUCED Waikato Times, Volume 121, Issue 20282, 26 August 1937, Page 7
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