Shareholders in the Union Cold Storage Company have reason to
be satisfied with the latest statement of accounts. Not only has there been a substantial increase in net profits, but the directors appear to be pursuing a cautious policy with regard to Reserves and Depreciation funds. For the past three years there has been a steady increase in the net profits, but on all occasions the dividend on the Ordinary shares, which are held privately, has 'imply been maintained at 10 per cent., the additional profits going either to special funds or to increase the carry-forward. This will be seen at a glance from the following brief statement :— Net profit .. • •
.. 268,227
Brought forward • •
.. 51,066
299,293 Res. and depreciation .. 78,777 Pref. dividends .. 118,800 Ordinary dividend .. 30,000
(10 p.c.)
Carry forward .. • •
.. 71,716
A further good feature in the Report is the decline of Bankers' and Other loans by about £92,000. In the balance-sheet the auditors draw attention to the fact that no provision has been made for the amount payable by the company in respect of Excess Profits Duty for the years 1914 to 1920.
1919. 1920. 1921.
£ £ £
395,275 483,999 71,717 87,497 466,992 571,496 87,989 108,667 261,555 328,800 80,000 30,000 (10 p.c.) (10 p.c.) 87,496 104,028
A. W. K.
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