Bp Islands Services
p. 13 · Read in the full issue
New Cargo Vessel
For
ANEW motor cargo vessel of 3,750 tons, named Malekula, is now under construction on the Clyde, and should be placed in the Bums Fhilp Pacific Islands services early in 1952, it is announced in the annual report of Burns Philp & Co., Ltd.
The directors report a net profit of £315,264 (an increase of £12,530 on the figure for 1949-50) earned in the year ended March 31.
Gross profit rose from £2,295,340 to £2,671,907. Salaries, wages, expenses, etc., md taxation absorbed £1,872,037 (£1,719,560 for 1949-50), and depreciation £402,287 (£208,583).
Unchanged dividend of 12 J per cent, required £250,000 and £50,000 is again idded to reserve (making it £1,500,000).
Assets total £10,902,245.