Burns Philp (S.S.) Co. Made

£53,400 Last Year.

The annual report of Burns, Philp (South Sea) Co., Ltd., for the year ended January 31, shows a net profit £53,417, on which a dividend of 1/3 per share is being paid. £5000 is being carried to reserve, which is now £100,000. The as sets of the company total £956,957, in cluding cash on hand, £34,976; proper ties and investments, £486,611; mer chandise, etc., £238,208; sundry debtors, £197,161. The balance-sheet discloses few details of operation, but enough is shown to disclose enormous internal strength.

The following summarises the posi tion: —

The directors state that, although conditions were more settled during the year, the compara tively low values of produce and general financial stringency had an adverse influence on current trade. The construction of a new concrete build ing has begun at Apia, and branches were estab lished at Pago Pago and Wallis Island.

Creditors have increased by 16,786, and debtors owe £7507 less. There has been a reduction of £1224 in cash. Merchandise and produce in transit show an addition of £25,227, and the valuation of properties and shipping has risen by £5604.

1930. £ 1932. £ 1933. £ Gross profit 185,059 169,182 158,121 Net profit 62,662 56,695 52,188 Dividend, p.c 7½ 5J 6i Amount of div 56,250 46,875 46,875 To reserve 5,000 10,000 5,000 Carried forward ... 1,410 1,230 1,543

Liabilities—

Capital 750,000 750,000 750,000 Reserve fund 80,000 85,000 95,000 Creditors 67,104 41,753 58,539

Assets—

Cash 47,055 36,200 34,976 properties & shipping 420,557 481,008 486,612 Merchandise 290,850 212,981 238,208 Debtors 201,301 204,668 197,161