Burns Philp

Parent Co. Makes Usual Profit— But is Moving from Islands to Mainland

rE Big Firm of the South Seas, Burns Philp and Co. Ltd., made a net pro fit in the year ended March 31, 1946, of £202,734. This compares with previous years as follows: 1945 £203,817 1944 £226,472 1942 £194,435 1940 £260,621 1937 £226,067 1935 £211,016 The Company's issued capital is £2,000,000; and, in addition, it has a re serve fund of £1,250,000 and various other reserves of £1,853,880, wholly used in the business—a total employed capital of over £5,000,000.

With the capital and reserves used in this and various affiliated concerns, the Company is capable of vastly extending its Islands operations. But, partly owing to war devastation, partly to Australian Socialist Government policy, and partly to a world-wide trend towards displacing private enterprise in transport and food production by nationalised instrumentali ties, there is less call to-day in the Islands for the multiple services of Burns Philp & Co. Ltd.

The directors have not sat and moaned, however. •On the contrary, they have been singularly silent, when they might have said a great deal. But they have not been idle. Step by step, the Com pany has acquired a chain of stores big and little, throughout the Eastern States of Australia; and it recently has extended these operations by purchasing hotel properties in Queensland towns.. This means that, even if Socialist Governments do succeed in crippling the Company’s usual enterprises in the Pacific Islands, BP will be able to carry on its usual volume of merchandising in Australia What remained of the Burns Philp fleet after the Germans and Japs had been defeated was not returned to Burns Philp It is only being run by Burns Philp as agents for the Australian and other Gov ernments. Some day, when the war-time politicians have finished with them, the vessels probably will be restored to their owners, and the owners will restore to the Islands their old-time transport ser vices.