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r"MONEY MATTERS',
Page 154
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Victory repeats 17i%
VICTORY TRANSPORT announced that pre-tax profits for the year that terminated on June 30 amounted to £63.443 which compared with £62,840 in respect of the previous year. After a lower tax charge the net balance came out at £45,859 against £39,741 previously. The dividend is being maintained at 17+ per cent.
For the period from January 1. 1966, to July 3, 1966, the pre-tax profit of Lancashire United Transport amounted to £94,930. For the same period in respect of the 1964/65 trading year the total was £91,880. The interim dividend has been maintained at 2 per cent.
In an accompanying statement the directors point out that since July 3 the position has been "somewhat less satisfactory". At present information is insufficient to enable the board to make a "useful estimate" about the full year's results.
The results, be they interim or final, reported by Dunlop Rubber are always eagerly awaited, scanned and analysed by the market and by the back-room research boys in brokers' offices.
This leading group reported that for the first-half of the current year the pre-tax profit amounted to £8.72 million which compared with £8.36 million in respect of the same period a year ago. These earnings stem from sales that amounted to £171 million against £166 million previously. This was well in line with what the market had anticipated. The interim divident is being maintained at 8d. per 10/unit.
So far as the outlook is concerned the key is obviously what adverse effects the cut-back in car production will have upon profits. The directors point out that the profit is usually larger during the second-half of the year. but they describe prospects as being "obscured" by the effects of the Government's deflationary measures. A month ago they found it impossible to forecast reliably the full results for the current year, but they were confident that, subject to economic conditions, longterm, a steady growth in profits should be achieved.
Martin Younger