Higher

Central Pacific

Trading

BP (SS) Co. Profits Higher

IN last issue of the “PIM,” we referred to the annual accounts of Burns, Philp & Co., Ltd., which despite the fact that most of its Pacific territories are under enemy or military occupation, showed a net profit of £201,464, which compared favourably with those of recent years.

We now have the annual report of the allied company. Burns, Philp (South Sea) Co., Ltd., which operates in Fiji, Tonga, Samoa and New Hebrides, all of which territories have escaped war damage.

The figures, compared with those of previous years (to January 31. in all cases) are as follow: —

Another £lO,OOO has been added to the general reserve fund, bringing it up to £140.000. The issued capital is £750,000.

The directors (Messrs. James Burns, Lewis Armstrong, R. J. Nosworthy, Joseph Mitchell, P. T. W. Black and Sir Henry Milne Scott) report that, as there are no Government war damage insur ance schemes to cover their territories, provision to cover wartime losses has been made at the various branches.

Net Profit.

Dividend. 1941 .. .. £38,971 5 p.c. 1942 .. . . 45,661 5 p.c. 1943 . . . . 53,243 6]p.c.