Papuan Co.’S Rich Profits
p. 22 · Read in the full issue
IN the year ended July 31, 1951, Steamships Trading Co. Ltd., of Papua, made a net profit of £85,005, which was £20,000 better than the previous year. It increased its ordinary dividend to 121 per cent.
The company is enjoying the full benefit of the lavish expenditure of public money in the Territories, plus a high price for rubber (it has substantial interests in rubber plantations).
Next year may not be so good.
Governmental expenditure now is being slashed, and rubber is down a bit. Nonetheless, this company need not worry—the reserves it has built up should tide it over many a stony patch.