Burns Philp

Profits Are Higher

NET profit of £226,571 disclosed by Bums Philp * Co., Ltd., for the year ended March 31 is a further recovery of £25,107.

This may appear astonishing in the case of a company whose field of opera tions, according to the popular idea, is in the Western Pacific islands, now largely occupied by the armed forces, and where there are no civilian trading operations. The explanation, of course, lies in the fact that the Big Firm does not keep all its eggs in one basket. It no longer trades in Papua. Mandated Territory, Gilbert Islands, Nauru, etc.; but it is trading on an enormous scale in Australia —and especially in Queens land. The majority of its ships are still on top of the water and earning big profits. (These figures, of course, do not include operations in New Zealand, Fiji and territories to the eastward, which belong to Burns Philp (South Seas) Co., Ltd.) Dividend is again 10 per cent.—a rate unaltered for 24 years. Allocation to staff retirement fund is £25,000, and carry forward is £35,101.

Year ended March 31, 1942. 1943. 1944. £ £ £ Net profit 194,435 201,464 226,571 Div., 10 per cent. 200,000 200,000 200,000 To staff fund 25,000 Carried forward .. 32,066 33,530 35,101 Gross profit .. .. 1,593,523 1,241,715 1,405,202 Expenses, etc. 1,110,445 878,045 1,002,963 Depreciation, etc . 107,865 112,993 154,309 Bad debts, losses . 180,777 49,213> 21,358

Liabilities:

Capital 2,000,000 2,000,000 2,000,000 Reserve fund .. 1,250,000 1,250,000 1,250,000 Ins., res., etc. 1,208.564 1,513,964 1,619^,707 Cash credits .. .. 124,192 24,191 47,306 Creditors 1,301,558 1,862.489 1,815,435 Branch balances .. 472,266 460,424 512,751 Owing to subsids. 458,066 741,655 664,942

Assets:

Merchandise, copra, advances 1,126,486 1,634,649 1,704.804 Property, ship 2,625,008 2,449,655 2,421,882 Cash in hand 205,786 151,007 144,407 Debtors 834,616 662,174 1,247,836 Owing by subsids. 106,914 158,730 157,048 Shares & Gov. sec. 1,307,715 2,188,917 1,653,143 Subsid. shares 740,188 741,121 741,121