BOOKER BROTHERS, McCONNELL
IMPROVED TRADING RESULTS
THE adjourned annual general meeting of Booker Brothers, McConnell and Co., Ltd., was held 08 February 17th St 37/41 Gracechutch Street, London, E.C.
Sir Alfred Sherlock, the chairman and managing director, who pre- sided, said: The trading results for the year ended rune 30th, 1941, are, you will see, about £17,000 better than for the previous year, but this is offset by our having had to provide £17,500 more for taxa- tion, leaving the net profit for the year approximately the same. Taking everything into account these results must be regarded as extraordinarily good, for which I think we should feel very thankful.
The only item in the balance-sheet requiring comment is " Sundry creditors and credit balances," where you will see that the amount owing to our main sugar-producing subsidiary—Bookers Darierara Sugar Estates, Ltd.—is nearly half what it was in the previous year, while debts to other subsidiaries have risen a great deal. Both these' differences are due merely to the fluctuating phases of our position as bankers for subsidiaries, and you will see, too, that the total amount under this heading shows a reduction of some L60,000.
There is much that I could say about general sugar-producing and trading conditions in the Colony, but in existing circumstances I think it wise to make no comments. Ybu will realise, of course, that there are many difficulties nowadays with which we have to contend.
Once more I must stress the magnificent work done by our staff in the West Indies, on our steamers, and here at home—all have been working under great difficulties. Finally, I should like, as I did last year, again to pay tribute to the Sugar Division of the Ministry of Food and to the Liner Division of the Ministry of War Transport, both of whom are always most helpful.
The report and accounts were adopted.
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