ANGLO-DUTCH RESULTS
Rubber companies are now showing results which reflect the low prices and severe restriction of last year. Profits and dividends in general are sharply down. Anglo-Dutch Plantations of Java who, through their Dutch operating subsidiary are very large producers not only of rubber but also of tea, sisal, tapioca, cinchona and other eastern pro- duce, have not escaped this tendency. The gross profit for 1938 was £305,121 lower at £356,592 and although the charge for depreciation was reduced the net profit was £225,669 lower at £198,621. Dividends amounting to 5 per cent. have been declared for the year compared with 9 per cent. for 1937, while the reserve appropriation is reduced from £5o,000
(Continued on page 36)
FINANCIAL NOTES
(Continued from page 34) to £25,000 and the balance to be carried forward is slightly lower at £57,447 again £66,856. The company's rubber crop was reduced from 16,505,762 lbs. in 1937 to 9,308,353 in 1938 notwithstanding the fact that it eked out its export- able quota by the purchase of licences for 1,167,533 lbs. Tea production on the other hand showed a healthy increase at 13,165,380 lbs against 11,359,456 lbs. and the guilder rate of exchange used to convert the Dutch earnings into sterling was a little more favourable at F1.8.90 to the £ against E.8.97 in 1937.
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