Trading Figures

Burns Philp Maintain Trading Figures

ALTHOUGH the last seven months of the year ended March 31 were under war conditions, the annual accounts of Messrs. Burns, Philp & Co.

Ltd., for the 1939-40 period do not indi cate any marked difference in the opera tions, as compared with the previous year.

Both the gross and nett profit showed a definite increase over last year. The directors report that the policy of ex pansion in the merchandise section has resulted in a further substantial increase in sales. This apparently set off any contraction in the shipping business caused by the war. Comparative figures:

Mr. Frank W. Ryan, of Rabaul. New Guinea, married Miss Mavis Hicks, of Adelaide, S.A., at St. George’s Church, Rabaul, last; month.

Year ended March 31. 1938. 1939. 1940. £ £ £ Net profit 240.574 251.144 206,621 Div.. 10 p.C 156,250 181,250 200,000 To reserve 75.000 25,000 25,000 War risk in. fund — 50,000 25,000 Staff retirement . . — 10,000 Carried forward .. 31,459 26.353 26,974 Expenses, etc 707,944 827.158 845,020 Depreciation, etc. . 103,091 130,633 121,042 Bad debts, losses . 36.371 37.292 57.398 Gross profit . . 1 111,950 1,246.228 1,284,081

Liabilities—

Capital paid up .. 1.625.000 1.875,000 2,000,000 Reserve fund . . 1,125,000 1,200,000 1,225,000 Insurance res., etc. 574,502 613.643 697,453 Cash credits . . 39,217 122,552 65,130 Creditors 918.874 880,757 1,032,385 Branch balances .. 805,596 923,365 693,780 Owed to subsids. . . 81,786 65.173 70,495

Assets—

Merchandise, copra. advances 1,389,414 1,185,302 1,125,024 Cash in hand .. 136.978 168,410 180.795 Property, shipping . 1,323,610 1,758,140 1,841,340 Debtors 928,408 893.493 858,451 Owing by subsids. . 98.087 110.817 114.782 Shares. Govt. sec. 751,928 997,367 978,160 Shares in subsids. 730,681 763,005 774.527