BP's Again Earn Steady
p. 60 · Read in the full issue
Profits
THE 66th annual report of Burns philp & Co., Ltd., indicates a net profit for the year ended March 31 of £279,850. With £49,715 brought forward, a sum of £329,566 is available for dis tribution. It is proposed to dispose of this as follows—lo per cent, on the Company’s £2,000,000 of subscribed capi tal, £200,000; £50,000 added to Reserve Fund; and £79,566 carried forward.
An increasing proportion of this old established South Pacific trading com pany's activities has been transferred from trading, shipping and planting in the Pacific Islands to plain storekeeping in - the Australian States of Queensland and New South Wales; but there are no details published.
The profit for the year just ended compares favourably with the profits of previous years, showing that the change in the character of the Co.’s activities has not affected its earning powers.
The statement of Assets and Liabilities shows that this Company’s assets are now £9,025,300, which include the follow-
IT was announced in May that Messrs.
Burns Philp & Co., Ltd., had bought a controlling interest in S. Richardson & Co., Pty., Ltd., of Narrandera and Leeton, NSW.
ing:— £ Real and shipping property .. .. . . 2,359,317 Investments in other companies and Government loans . . .. 2,426,107 Shares in subsidiaries . .. 1,325,939 Cash on hand or at call .. .. . . .. 226.637 Stocks and produce .. . 1,596,937 Book debts, etc . . . . 780,811 Owing by subsidiaries .. .. . . . . 309,549 The main items in the statement of Liabilities are:— £ Issued capital . . . . 2,000,000 Reserve fund .. .. 1,300,000 Insurance fund, etc .. .. 1,986,710 Sundry creditors . . .. 1,511,481 Shipping, etc., a/cs in credit . . .. 1,397,955