AUSTRALIAN TRADE PROFITS

Daily Telegraph (Napier), Volume 59, Issue 50, 31 March 1930, Page 10

AUSTRALIAN TRADE PROFITS

Experience of companies operating in Australia widely varies. Lustre Hosiery, Ltd., Sydney, declares .profits for the past year after making provision for depreciation as £50,417. The directors, however, in view of presenfc j conditions of trade, add that tbey will ; not recommend at the annual meeting ! any distribution of profits by way of dividend. They propose that, after making provision for income tax, the balance at credit of profit and -loss account be carried forward. The profit subject to taxation mentioned compares with £28,931 fdr the six months to 31st- December, 1928. and £28,074 for th© twelve months to 30th June, 1928. The annnal balancing date was changed from 30th June to 31st December in that year. On tho other hand, London Stores, Ltd . a "Mel bourn© outfitting and mercery house, shows net profit of ' £47,445 for the year to 28th Fehruary. This cempares with £36,213 - for the nreceding year and £43,129 for 1927-28. Dividend has been maintained at the rate of 12£ per cent. R. H. Gordon, Ltd., Sydney, house furnishing, continue to dis-. tribute 15 per cent.