Annual Report Of Brown
p. 75 · Read in the full issue
And Joske, Fiji
Al PROFIT of £7,423 was earned by Brown and Joske, Ltd., Fiji, for the year ended March 31, 1936. Dividend of 7 per cent, on preference shares absorbs £1,400, and 5 per cent, on ordinaries takes £2,472, the previous year’s ordinary dividend being 3 per cent.
After meeting these appropriations and bringing £4,486 into the account £5,854 is available, and will be used as special pro vision for contingencies against the value of the coconut areas.
The directors feel that the price of copra is unlikely to fall much below pres ent levels, but that internal provision is necessary for any adjustment which may be necessary if prices remain at the pres ent level. Comparisons:
1934. 1935. 1936. £ £ £ Cross profit 9,810 11,913 18,490 Net profit 1,636 3,451 7,423 Pref. div 7 7 7 Amount 1,400 1,400 1,400 Ord. div 3 5 Amount — 1,483 2,472
Liabilities—
Capital— Pref 20,000 20,000 20,000 Ord 49.440 49,440 49.440 Reserves 10,525 10,525 10,525 Profit and loss 2,434 4,485 6,554 Mortgage 2,200 2,200 Deposits 4,499 6,380 • 17,031 Creditors 3,026 6,139
Assets—
Property 30,415 30,928 45,636 Plant 1,553 1,592 Stock 15,010 15,296 Debtors 29,984 34,912 51,166 Cash 2,069 1,096 Bank 414 2,305 6,748 Shares 12.679 12,040