W.R. Carpenter & Co.
p. 76 · Read in the full issue
Net Profit Again Higher
W R. CARPENTER & CO. LTD., an island produce merchant company, reports a net profit of £68,079 for the year ended June 30, compared with £48,684 the previous year and £36,392 for 1933-34. The dividend is maintained at 8 per cent, on the increased capital, the distribution re quiring £47,363. A sum of £15,468 is transferred to replacements and renewals account, £4,000 to contingency account, and £2,500 to superannuation account, leaving £4,830 to be carried forward, against £6,082 brought forward.
During the year the company bought the ordinary shares of Brown and Joske Ltd., of Suva, and registered the South ern Pacific Insurance Company Ltd., of which it holds all the shares. Of the Com pany’s capital, £500,000 is invested in Commonwealth bonds, subsidiaries and associated companies. The directors state that the full benefit of the new capital will not be reflected in the accounts until the next balance-sheet is issued. They add that shareholders must view the com pany as a parent company, and that be fore bringing figures into the accounts, reserves and contingencies are provided for in branches, subsidiaries, and asso ciated companies. Of the company’s capital approximately £500,000 is invested in Commonwealth Bonds, subsidiaries, and associated companies.
The directors are Sir Walter Carpenter, Sir Henry Braddon, Messrs. W. S. Ben nett, D, .1. Brownhill, R. B, Carpenter and C. H. Carpenter. Mr. J, A. Carpenter re tired during the year, owing to indif ferent health.
Year ended Tune 30. 1984. 1935. 1936. £ £ £ Net profit 36,392 48,684 68,079 Div., 8 p.c 24,133 30.400 47,363 Bonus, 2 p.c — 9,200 To investments reserve — 10,000 To branch reserves. for doubtful debts. 5,000 To replacements and renewals 8,075 15,468 To superannuation account — — 2,500 To contingency account — — 4,000 Forward 11,998 6,082 4,830
Liabilities—
Capital 339,788 468,326 641,031 Reserve 200,000 200,000 200,000 Replacement reserve. 20,000 * • Creditors 17,596 **78.187**108,412 Bank 475 — —
Assets—
Investments 140,617 217,885 348,126 Various property . . . 28,155 $277,475 $367,616 Branch balances . . . 418,867 — — Debtors 21,284 225,038 185,425 Stock 15 72,423 69,478 Ventures in abeyance 554 —.
Unexpired charges . . — 773 33,808 * Not shown separately. ** Including bank. $Land and buildings. ships, aeroplanes, plant, etc.