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MONEY MATTERS

18th September 1964, Page 114
18th September 1964
Page 114
Page 114, 18th September 1964 — MONEY MATTERS
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Which of the following most accurately describes the problem?

Transport Developn

iT may seem to some readers that the TRANSPOR1 1 DEVELOPMENT GROUP gets more than its fail share of mention in these notes. This frequent mentim is simply because this virile, on-the-move group give financial scribes plenty to write about. For example hard on the heels of the announcement that the boar( intends to issue £4m. 6% loan stock comes an excellen set of figures covering the half year to June 30 last Group income soared to £11,605,000 from £9,836,001 during the same period a year ago, while pre-tax profit jumped by 34% to £1,658,837 (11,228,950).

This improved profit figure obviously reflects thl benefits which recent acquisitions have brought along The figures do not, however, include any profit of Caryl Distributors, the Australian acquisition. The director propose to maintain the interim dividend at 4%. A this is payable on a capital enlarged by a 1-for-4 scrii issue—as well as issues made in order to carry througl acquisitions—it is an effective increase, the equivalen payment last year being 3.2%. Shareholdlers are warned however, that this does not mean that the total paymen for the year will necessarily, exceed the equivalent tots of a year ago. Just how much notice holders, or th market, will take of this warning is doubtful; my huncl is—precious little. Much more likely are they to " faste on" to the directors' comment that trading condition continue to favour the group; if the economy remain buoyant the year's results "will be good ".

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