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BET Omnibus profits higher
Page 99
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rHE year that ended on March 31 last was a good one for I BET OMNIBUS services. Pre-tax profits jumped to £1,282.560 om £1,241,678 the previous year. The tax charge was sharply iwer at £239.328 against £489.805 previously, making the at balance £291.359 higher at £1.043.232. So far as the latest ix charge is concerned this partly reflects the changeover from icome and profits taxes to the new corporation and distribution ixes. Thus the figures are not quite comparable with those of le previous year. Despite the increased earnings, however, the irectors recommend a final dividend of 8%. which maintains le total for the year at 11% tax free.
At a recent Press conference, the chairman of DUNLOP UBBER Co. outlined a massive programme of expansion to be read over the next three years. During this period the directors nvisage spending £65m. to be divided between the group's iversified activities broadly in the proportion to which assests re currently employed. Sir Edward Beharrell said that although us programme would be financed, in the main, from the group's
own resources he added that -there must be a funding operation", but he could not at this stage indicate what form it might take, nor the time.
It is hoped that part of the distribution in respect of the current year will be paid net. At around their present price of 30s. 9d.
— they have participated in the rise in manufacturing shares that have taken place as a result of the Chancellor's Budget measures — these 10s. ordinary shares yield 5% based on the latest dividend of 15.8 per cent. In my opinion they should be retained.
In his latest annual review the chairman of BARR and WALLACE ARNOLD TRUST tells stiareholders that during the past year 81% of the group's profits was derived from inclusive holidays in Britain and abroad and the group's bus and coach operating subsidiaries. Of the bus and coach trading. Mr. J. M. Barr added that these "continue to produce satisfactory profit increases". There was a 10% rise in net revenue from British holidays, while continental holidays produced an increase of as much as 30%.
Martin Younger