W. R. Carpenter & Co.
p. 76 · Read in the full issue
Profits Doubled in Two Years
kiESSRS. W. R. CARPENTER and Company Limited in its 23rd annual report, covering the year to June 30, 1937, discloses a net profit of £100,585, as compared with £68,079 for the previous year. The dividend rate has been raised from 8 to 9 per cent.
This company, either directly or through sub sidiaries, maintains a merchandising, planting, and transport business in New Guinea, Solomon Islands, Gilbert and Ellice Islands, and Fiji, and it is entering extensively into the oversea ship ping business and the rapidly developing industry of aerial transport.
The directors state that further expansion is contemplated, especially in oversea shipping. The company was the successful tenderer for the Government air service contract between Australia and New Guinea. During the year further inter ests were acquired in the aviation field in New Guinea, and a new subsidiary was formed for this depai-tment, known as Mandated Airlines Ltd., in which the company has the controlling interest. A controlling interest has been secured also in two new companies, Bulolo Hotel Ltd., and Wau Hotel Ltd., which operate the two hotels at Wau, serving the goldfields. The com pany’s recently-formed subsidiary, the Southern Pacific Insurance Co. Ltd., has made excellent progress.
Comparative figures are as follows: —
The board of Messrs. Carpenter and Co. Ltd. now comprises: Sir Walter Carpenter (Chairman and Managing Director), Mr. R. B. Carpenter (Assisting Managing Director), and the following four directors, Sir Henry Braddon, Messrs. W. S.
Bennett. D. J. Brownhill, and C. H. Carpenter.
Hon. B. B. Perriman, M.L.C., is now Superin tendent for the firm in New Guinea, and Mr.
W. H. Carpenter is Manager at Rabaul.
Year ended June 30. 1935 1936 1937 £ £ £ Net profit 48,684 68,079 100,585 Dividend, p.c 8 8 9 Dividend, amount 30,400 47,363 60,615 Bonus, 2 p.c 9,200 •— ■— To investments res 10.000 --- •— To replacements and renewals — 15,468 17,535 To branch reserves, for doubtful debts 5,000 — ■— To volcano losses ■ — — 10,000 To superannuation account ■— 2,500 3.000 To contingency account •— 4,000 3,000 Forward 6,082 4,830 11,265
Liabilities:
Capital - - 468,326 641,031 673,500 Reserve ... 200,000 200,000 200,000 Creditors 78.187 108,412 104,287 Premium on share issue — P 10,374
Assets:
Investments ... 217,885 348,126 393,100 Property, ships, etc 277,475 367,616 347,761 Debtors - - 225,038 185,425 168,955 Stock 72,423 69,478 101,612 r.avh — 47.348 Unexpired charges 773 33,808 7,861