Bp (South Sea) Co. Has
p. 81 · Read in the full issue
Another Good Year
DESPITE higher costs in practically every department, the Directors of Burns, Philp (South Sea) Co., Ltd., report a profit of £94,017 for the year ended January 31. Higher prices for most products, and the sound position of the copra industry allowed this Co.’s trading tp continue advantageously in all its Ter ritories—Fiji, Tonga, Samoa, Norfolk Island and Niue.
The Co. has a subscribed capital of £750,000, reserves of over £750,000, creditors of £182,744, and a balance in P/L of over £lOO,OO0 —a total of nearly £1,800,000 being thus employed. On the other side are shown the usual figures (over One Million in merchandise and produce in transit), with £15,000 in in vestments, nearly £120,000 in cash, and about £300,000 in a “subsidiary company.”
The Co. pays a dividend of 1/9 per share (85 per cent.), transfers £25,000 to reserve, and carries forward £48,600. A very sound concern. The Directors are Messrs.
James Burns, Joseph Mitchell, P. T. W.
Black, John Trotter, F. E. Loxton, and Sir Henry Milne Scott.