BURNS (South Sea)
p. 24 · Read in the full issue
Report Larger Profit
GROSS profits of Burns Philp (South Sea) Co., Ltd., increased by £15,886 to £153,393 during the year ended January 31 last, and although expenses were £10,290 highelr at £110,639, net profits increased from £37,158 to £42,754.
Dividend, which was paid on April IC, at the usual rate of 5 per cent, per annum, absorbed £37,500, and £5OOO was trans ferred to the reserve fund, raising it to £105,000, leaving £2013 to be carried for ward, against £1759 brought into the ac counts.
Improved prices were obtained for copra and other Islands produce during the greater part of the year, and on the basis of present values the outlook is now more encouraging. Increased spending power and greater confidence in the future were responsible for a better mer chandise turnover and business im provement generally.
New main premises, more centrally located, were completed at Nukualofa (Tongan Islands), and occupied during November. The steamship Mirani was purchased from Burns, Philp and Com pany, Limited, to replace the s.s.
Makamho, in the New Hebrides inter island trade, the latter vessel having been withdrawn from further service. The s.s. Mitiaro, which for the past two years had been laid up, having been deemed un fit for further employment, was stripped and sunk at sea. Inter-island communi cation is now being catered for by a number of smaller craft.
Miss Maisie Isabel Wallis, second daughter of Mr. and Mrs. A. W. Wallis, of Newtown, sailed by the Montoro on March 19 for New Guinea, where her wedding to Mr. Basil W. Storey will take place in Wau. Mr. Storey, an Englishman, is attached to Guinea Airways Limited at Lae, where the couple will make their future home.
M rs. S. G. Jones, wife of the manager of Burns Philp (South Sea) Co. Ltd. at Wallis Island (one of the outlying islands of New Caledonia) left Sydney by the Morinda on April 4. She had been in Australia for several months seriously ill with pneumonia, but has now recovered.
Her daughter, Beryl, has entered Koyong College at Moss Vale, N.S.W.
1933-34 1934-35 1935-36 £ £ £ Gross profit 147,700 137,507 153,393 Net profit . .. 38,058 37.158 42,754 Dividend . .. 5 5 5 Amount . ... 37,500 37,500 37,500
Liabilities
Capital . .. 750,000 750,000 750,000 Reserve 100,000 100,000 100,000 P and L . . 39,601 39,259 44,513 Creditors .. 98,489 40,385 30,724
Assets
Cash 31,663 33,746 36,662 Property, etc. . 559,397 541,566 554,179 Stock , 195,372 154,299 158,898 Debtors 201,658 200,032 175,498