OMPANY MEETING
SANGERS, LIMITED
ADVANTAGE OF WIDESPREAD INTERESTS
E twelfth annual general meeting of Sangers, Limited, was held on ednesday, August zoth, at the Holborn Restaurant, London, W.C. Mr. Fredk. John Smith, the chairman, who presided, said: I said t year that it was impossible to make any forecast as to the future' rospects, but that your company had the advantage of widespread terests, and that those branches and subsidiaries operating in eatened areas might be balanced to some extent by others whose tivities were mainly throughout reception areas, and were con- quently doing increased business. This, I am glad to say, has roved correct
Your company has factories or warehouses, or both, either as nchcs or belongipg to subsidiary companies in Belfast, Birmingham, urnemouth, Bristol, Cardiff, Leeds, Liverpool, Newcastle, Plymouth, well as those situated in various parts of London.
SATISFACTORY RESULTS
The profits for the period amount to £209,754, as against £249,796, difference of approximately £40,0oo ; but as you will see by eference to the last line of the balance-sheet, it has not been sible to prepare accounts for two of the companies this year, and y partial accounts for a third, otherwise the board are satisfied t this difference in profit would have been fully made up. You will observe the note on the balance-sheet to the effect that account has been taken in the figures for damage done to operty, &c., but that provision for all premiums in respect of the urance of same has been included in the figures before you. ose premiums alone amount to £30,000. I have already given the profit brought into the report as £209,754, which must be added the balance brought forward at March 31st, 940, of £575,455, making a total of £385,209. After providing for me-tax and for dividends already paid, also for the £3,030 applied reduction of goodwill, and for the £75,000 transferred to the nungency reserve there is a balance of £161,009 remaining. Out of this the directors recommend that a final dividend of 5 per cent., less tax, be paid on the Ordinary stock, making with interim dividend of January last a total of 221 per cent. for the nod to April 30th, 1941, and leaving a balance to be carried 'ward of £115,803, against £175,455 last year.
This reduces the balance forward by nearly £60,000, but in view the £78,000 taken for reserve and goodwill, your directors think t the report should be regarded as quite satisfactory. The report and accounts were unanimously adopted.
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