N.Z. RENNET COMPANY

Waikato Times, Volume 122, Issue 20501, 18 May 1938, Page 12

N.Z. RENNET COMPANY

REVIEW OF OPERATIONS The twenty-second annual report of the directors of the New Zealand Cooperative Rennet Company, Ltd., to be presented to the annual meeting of shareholders at New Plymouth on June 22 covers the year ended April 30. 1038. It states — “Our cheese rennet and cheeee colour have been used by over per cent, of the co-operative cheesemaking companies of New Zealand and by a considerable number of companies in Australia. Sales of our Renco for junket have again increased in New Zealand, and this product of the company is now being sold in Australia. The laboratory building, under coni struction at this date last year, was | opened in October by the Minister of [ Industries and Commerce, and is probably the best-equipped commercial laboratory in the Dominion. The profit and loss account shoxvs a surplus of £1630 after crediting the amount of £2130, shareholders’ reba'.e, and the directors recommend that the balance available a # fter payment of the necessary charges to be carried forward as a credit balance. The following co-operative companies have become members during the past year: Cape Egmont, Tussock Creek. Opunake, Mokotua, Aparima and Pembroke. Mr J. Fisher, who was elected to the vacancy on the directorate caused by the death of the late Mr W. Fisher, retires by rotation and offers his services for a further period. The Accounts The balance sheet 6hoxvg the paidup capital as £16,525, sundry creditors £BIB and overdraft £4780. The assets, totalling £23,755, Include land and buildings £6713, plant and fittings £3871, after making provision for depreciation, stocks £12,,013, and sundry debtors £BOO. Sales and fees for the year totalled £34,888; materials purchased, manufacturing cost, wages and renewals cost £24.453, salaries and overhead J. charges £6795, fees £2OO, and depreciation £1906. leaving a credit balance of £1630 for the year.