Burns Philp (South Sea)
p. 64 · Read in the full issue
Higher Profit and Dividend
pURNS PHILP (South Sea) Company Ltd. re ® ports a net profit of £58,088 for the year ended January 31, compai-ed with £42,754 the previous year and £37,158 for 1934-35.
A final dividend of 8d per share makes 1/2 for the year, or approximately 5.83 per cent; com pared with 5 per cent the previous year. The years’ dividend requires £43,750, and £lO,OOO is to be transferred to reserve (making that item £115,000), leaving £6,351 to be carried forward, against £2013 brought forward.
The directors state that overseas markets for copra and other Islands produce continued to improve, and values were more remunerative to producers. This in turn was reflected in improved results from trading operations and Islands in vestments.
Orders have been placed for the building of two small motor vessels for inter-island trading, and both are expected to be in commission during the second half of the year.
Owing to conditions at Nauru Island, Central Pacific, restricting profitable trading with the natives, the whole of the local assets were sold, and the branch was closed in April, 1936.
Year Ended January 31.
1935 1936 1937 £ £ £ Gross profit 137,507 153,393 180,189 Net profit 37,158 42,754 58.088 Dividend, p.c 5 5 5.83 Amount of div 37,500 37,500 43,750 To reserve — 5,000 10,000 Carried forward 1,759 2,013 6.351
Liabilities—
Capital 750.000 750,000 750.000 Reserve fund 100,000 100,000 105.000 Creditors 40,385 30,724 48.624
Assets—
Cash 33,746 36,662 53,110 Properties and shipping 541,566 554,179 551,832 Merchandise 154,299 158,898 172,997 Debtors — 200,032 175,498 185,785