(South Seas) Ltd.
p. 56 · Read in the full issue
Profits Of Burns Philp
TN the year ended January 31 last, Burns Philp (SS) Co., Limited (registered in Fiji), made a profit of £100,923 which, with balances brought forward, gave the P & L A/c £149,081. After paying the usual dividend of 10 per cent., and trans ferring £25,000 to the Reserve Fund (making the latter’s total £400,000) the directors will carry forward £49,081.
The year’s operations showed some shrinkage, but this apparently was due to drought conditions in Fiji, Tonga and Samoa, causing a substantial decline in copra production, with a consequent cur tailment of spending power and merchan dising.
The subscribed capital of this company is £750,000; and this, with the General Reserve Fund of £400,000 and sundry other Reserves totalling £568,855, plus the balance in the P & L A/c, give a working capital of nearly £2,000,000.
On the assets side this company has £251,394 In real property and shipping; £944,424 in general investments; £314,960 in a subsidiary company; over £lOO,OOO in merchandise; and it carries about £ 150,000 in cash.
Actually, as only about half the capital actually is “working”, the annual profit and dividend are remarkably high.
The directors are Sir Henry Scott (chairman) and Messrs. James Burns,.
Joseph Mitchell and P. T. W. Black, of Sydney, and R. C. Kerkham, M. H.
Belsen, and G. S. Simpson, of Suva.