MONEY MATTERS
Page 90
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Bristol Street Gro
DRISTOL STREET GROUP announced that the interim dividend in respect of the current financial year is to be 10 per cent or 1 per cent more than was paid in respect of the year before. It has been previously stated that turnover and profits for the eight months to August 31 last were higher than those for the same eight months a year ago. It was further stated that prospects for the remainder of the trading year were encouraging.
For the year to end-December, 1963, record profits were earned; pre-tax they amounted to 1540,402 and compared with 1304.035 the year before. Reporting to shareholders On the year's workings the chairman, Mr. A. L. Cressman (regarded as one of the most dynamic leaders in the industry) reported that turnover during the first three months of the present year showed an increase over the figures for the same three months of 1962. Therefore, the lifting of the latest interim distribution caused no surprise in the market. Eyes are now turned on the final payment; it is not so much whether the payment will be raised (this is now confidently assumed), but what the increase is likely to be. Meanwhile, at around their present price of 28s. these 4s. Ord:nary shares yield a useful 41 per cent based on the previous year's total dividend of 30 per cent which was covered twice by earnings. Once markets have moved out of the grip of the General Election I expect to see renewed interest in these units.