Document Gm16EVOx62brG87reBQD3nqdx

PLAINTIFF'S EXHIBIT -HiIZX^Cl. rROFIT AND LOSS ACCOUNT for the year ended 31st March, 1958 1957 1958 ML57 Transferred Co General Reserve 00,000 Dividends: Interim Dividends Pi*J 702,000 U . 702,000 750,000 748,800 748,800 Balance from previous year.. N Profit for the year after providing for taxation *$5,278 2,971,358 i,m,m 2*47,800 l Balance carried forward 1,081738 1,150,15* 1958 1,052,7; 2,335,0! WS7 2,858,788 3&7,X NOTE.--The lotrt oreost* ^id re the Otrocren oj reteuMreik* far that rerviere vu 9,360, ofwfaidt mis 500 mi paid tty CER. Cheanvab 9*y. Ltd j. VERNON, J General Muu|u, . It KNOX, Diew. C. *. KATER, Director. STATEMENT PURSUANT TO SECTION 106 <l) OF THE COMPANIES ACT, 1936. Profit* ^tubiifary ccanpaom have been enrtud^ fa the attached *ccuuuu ia the ecus' to 'bich they here dodared drvktodi dart d* ptfiod there mcmq rdare. Umax mured tty MJbMLory rmifrinini tea the pefada crerered tty thou fast ueaunu ha*< fe U&r prided far fa the '" of the hakfare rv--.--> . R. KNOX, Direcun. C. B. KATER. Director. AUDITORS' REPORT TO THE SHAREHOLDERS. We repen the* * fc** qgaimrrt the Btfanre Sheet fans kb the Eoob ofAocausi V the Company ud reto iht espfat and orufc from theSaofaead AsmuMofthe ddfeui Bruche* and Milfa andweb returrereberebeutreaBuued tothe Head OSa tfthr Csapt* Ait the tofretBotfaa entt reptirrumv * -- *--1t rnurrl -- *--- *J~ m.4>faeMropfaioa,tbe Pifimi1 Shoe fiimn a prep, anrt up to ju retaMfet in* udearettvievd the ctetc of the Company4* aeurtfnemtbt tore* of the information and csrplt- boo* fr**B te to om a* ihorea by the Boob of j'lrrtnmi of the Qnrefune. The keftner cS Member* ood other reared* hkh the Cempt required re beep fa aenredoM* with ro Aruda and the Campon** Act, 1936. fan*, fa our opinion, fares property **?> Sydney, 36th Me;, I9U. VaRWOOD, VANE & COChonmd Acnsuntenn (Ai.V PLAINTIFF'S EXHIBIT WV-03975 rwhoni oif* $ to TOTAL SALES REVENUE AND DIVIDENDS - THE COLON}At SUGAR REPINING COMPANY LIMITED Averaged for last three years -- 1956*S7*58 T** eu['i renyim mxxe *j ta*voo*een * tM Coreoeny i tom' te*re let fa* !' t*nv* (*<* l jentfi *no muMi iwmh tMU.Xb t*i*i 1 injfcTjeot K <8 SO *0 w K w too 110 4 WV-003975 Moreover, as this price a below (be "ceiling'', export* will ricnosi certainly be limited for (he 1958. calendar year to the quota under the imertuuo&aJ Sugar Agreement and the British Commonwealth Sugar Agreement, via. 637,000 tons for Australia. Tb? duration ef (he current International Sugar Agreement is SveT^cm, expiring at the end of 1956. Arrangement* are in train with the United Nation* for a conference to be probably n Septenfeer (ha year, for (be purpose of negotiating a new agreement. DiedUarfec As forecast last year, thclcvd ofsalesofdistillery products has arotieued to rise- The additional spirit demands have been met by supptaaeming our Sydney and Melbourne factory output with alcohol from the dutiUey ef the Australian National Power Alcohol Company PtyH Ltd. at Sarins, North Queensland. Ocean Vtssti* The new `'Rons*' has sow bees in service for some month* and k performing up to expecta tions. "Taxnbua** is giving satisfactory service, but ''Fiona", a s&jjlc and older vessel, is for sale. Bgilding Materials .Division Despite a lower volume of general building activity, rise total value ef sals of our building materials was 11% higher than far the previous year. Timbrock and Csmc-ke sales woe much the same as last year, but plaster and Gyproek wallboard sales improved and there was a marked increase m the sales ofVinylflcs floor rifac To meet a demand for Arc resistant partitioning with a one-hour frt rating, a new and thicker plaster board of the Cyproci type, which we have called `Tyrcbdr", has been developed; tt has had a good reception. A strong demand continues for blue asbestos and 12,550 tons were told for the year, compared to 10,900 teas for the previous year. Additional plant is being mstalleri Witunoozs to meet the opanding marheL la February the Company purchased (he whole ef the shares in three onopanks in Western Australia which manufacture plaster products, fibrous plaster, lime and expanded vemucuhtc. C-S.SL Chemical* Pry. Ltd- (60% CJL) The doaad for chemicals made in the Rhodes and lane Cove factories shewed further appresaUe improvement during the past twelve months, the value of sales emending that of the previous year by approximately 17%. The insoacd demand was fairly general, not being . confined to anyparticular product*. During March a Tariff Beard Inquiry was held to constdg whether further saistance should be given to cclhifawr acetate flake as the three year period of the peqcst iMUXfifaiffci jUb._. expires on 30th June, 1958. The result of the Inquiry is not yes known, "the major part of the cellulose acetate production is used in the manu facture ofrayon, and foe textile market prospects, including those for acetate rayon, are tmntafactory, mainly because ofJapanese competition. * The production ef Sum 475, a toughened form of polystyrene, ha* been successfully started mx Rhodes.-This product., produced under licence from The Dow Cbtaticaj Cempany^_/U^Al, is ciprrtrri to take tM place of poly, styrene new bang imported into Australia. _ Very shortly (he plans at Rhodes for the manu facture of vinyl acetate wffl be completed*Kir * this chemical wiU also become available from an internal Australian aourea It is an important component of cenalrioa prints and ef cstain adhorves. Accounts A Urge programme of capita] expenditure continues in refineries, atilh and other division* of (he Company. As regards the profits of the year under review, wc experienced good season* and large crops at both Australian and Fijian raltb. supported by a higher than iwrail price for a centidenblc portion of the export sugar. There was more stability ofcom than in recent yean, and record or near-record aria were achieved in nearly every division of foe Company. Therefore this was, in general, a favourable year. It a not usual to express an overall view because it is difficult to do so in respect of a business with such a geographic spread, subject to the vicissitude* ef climatic condition* on crops, and with such a diversity of product and of industry. On lha occasion, however, I would point out that the year's profit has resulted from a favourable coqjunctioe of rircumtsanas which may not recur. it will be observed that several changes in volving large amounts have taken place in this year's balance sheet. Apart from thou resulting from last vear't operation*, the changes are thr result, in the main, of the rcvriuauoo of *a*cu in Fiji, (he 1 for 3 issue of share, and the other matters dealt with at foe Extraordinary General Meeting held on llfo September, 1937. In a printed addendum to be published with this address attention is drawn to `certain changes in r*i- Britleb CommoBwcaiia nogmr Agreement Atpresent theCommonwealth sugar predeeen ere holding their manual diacuesieei is London with tie British WiniW f Agnculuere. FieHeriei end Food. The principal bBerne*) of th ten* ferenm is the deteraiaatjen ef tie *` negotiated pnee " to be paid by tie 1/fiW Kingdom during 1959. * 2ntrvciee*i Sugar Agreement The IftigMtied Sugar Agreement expire* a the ead *f 1958- A new agreement, to operate for fire yean, bet nbjeci to mw is the third year of it* operation, hu just boos negotiated by# delegate* wfco set at Geneva ia September <ed O^oher. the se agewsaaaat has m wider sad awAy batis ef jaemberahip among exporting emstric* this the ptevioue agreement, sad eneteiaa acme sew iestauts deeired by importing loaatrw*. It wms agreed that British Commonwealth expert* would be wstrietod to 2,500,000 long tea* is 1859 the earn* figure a* peaent), mod to 2,575,000 tees is both I960 mod 1961. The hseue of 75,000 toes Ibx I960 has to be divided among the various Commonwealth territories by Bsuteel agreement- H it a divided is the Mae proportions *s previously, Australia* there will be sheet 19,000 tcm* mad F$* ibn shout 5,500 tose. One ef the prineiptl objectives ef the agreement it to sublime price* is s eertsis range, end the range m the new egReaeat u tbs axme ms baler*. Tfeeae prises effect the prime obtainable for exports from Austral** msd fij ether thus the exports sold to the Onited Kingdom ex the " negotiated pries Nev Zealand Boles ef refined products fans ev Auckland refinery far the peer ceded S&th September. 1955, wvrt 105,900 teas, me iaereese ef 3,<00 toss over the previous ysr. Bulb reaeivisg ef raw *ogar mt Chekes Refinery, wfiish began is April, hex proceeded mlcdeetorOy; The construction programme for this work ss m major e&e, involving the budding ofs new wharf. s mrmee mad sesveyieg equipment, mad m new store for bulk tv* eager. Building Materials Pivision SsIbs of CS.R buQdisg materials have increased moderately during the imet sir Booths ia the face ef strong eompetiuoa is . *11 line*. BuBdisg aotmty is Auetwii* hms bees ml m steady kvel overall vHh m tread te an feamaae in botw bsSdiag.aad acme elarirumng is fimmirtid hnfidinff L*j.it.youdf Visylfiex fioo? mod mU tgM were reeentiy introduced to tbt market end h*v hmd m very pleasing reception. A number of the Urge retail stones in etch of the emptul atime mre disthbuttng this aew line. Oyproek pUsterbomrd ii sfemdUy gmisisg wider meoepeeooe me m high ^cuhiy iesenor lauag for wells mod ceilings of h^coe* mod. office The Cbtopmoy hts mequifed m ee&txehiag faterestin thoUighmas FUstr Co. Ltd., ofAdmlmide. The Jnghftm teeter Compmoy hss been eagmgod i& the tsssufmetore ef high qushty pUster mad fibrous plaster products Sot samay yean sad hmm eseteative gypsam reserve*. We sow bsve plmcter Bulls mad ndmid activities ia four Aescrmlima StetB. Heir bias asbectes saSUag plsat bms be*& brought into peduetioa ml WitMnooa 4& Wwtera AustrelU, iacreasiag the empadty te 20.000 teas of *ebenot fibre per sxassa. Thtft hss been s digbt weakening ef the evem* zoarmet for' bUe csbwtee, bub Uesl eonrumptioo iaoyethig. C3.R. Cbetniccds Fry. Ltd. (60% C.S,R.) Product)oo mad' male* ef ,f Sum <75 a toughened polyctyrese tasde under litesee ro The Dow Chemical Company, ire proceeding satisfactorily. The produetioo of riDj-i oeeute ^ts *uwrfully started early is August mad the de&mad for this ebeaieal, which is tht base for most of the pretest emakioa type pmifiU and the sewer adhesives, has been at a high rate froas the coatasaflfBcet ef eperattoas- By the successful ef this project aaother base chemical, which had hitherto bees i&aported, became avail, able locally. The beauty os the proecchos of cellulose acetate flake sold for the manufacture of acetate yam in Australia, which expirad o& the 30th June last, has been extended for a further twelve mouths, or lesser Came should the Gover&ne&i so decide. The Tarifi Board report os the public enquiry which was held i& Uareh Isat was not availableatthetime the amendmentte the Bounty Act was passed, but the Government considered it reasonable te extend the benefit* ef the bounty until it was in petition te eximinc the reeos* mendstioas f the Tariff Beard. Overall saU* of products made a*, betb the Rhode* and Lane Cove factories showed funne; improvement over the paei six months, Tour* very tmij\ J. VERK0K. Genarel bfmnager.