Comes From
p. 53 · Read in the full issue
Where The Money
IT. R. Carpenter Holdings balance sheet for the year ended June, 1972, shows that 40.5 per cent of the group’s profit for the year came from Australia; 38.2 per cent from the Fiji opera tions and 21.3 per cent from Papua New Guinea. In Aus tralia there was about $37 million of Carpenter funds employed, in Fiji some $24 mil lion of funds and in Papua New Guinea some $l6 million.
The apparent low level of return on funds in Papua New Guinea is partly explained by the group’s involvement in long-term growing projects, such as tea, with high initial capital costs.