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Wiles Group on the 'up'
Page 82
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MENTION the Wiles Group and fertilizers immediately spring to
mind. Certainly they have been an important part of this wellknown group's activities. But henceforward there is going to be concentration on commercial vehicles (in which the group is sizeably interested) and on publishing. And my hunch is that a lot is going to be heard of Wiles in the years ahead.
It has just been annou,nced that pre-tax profits for the year that terminated on June 30 were a record—£402,000 compared with £384,000 for the previous year. The proposed final dividend of 64 per cent makes a total for the year of 121 per cent, which is just about the equivalent payment made a year ago. Last year the fertilizer division accounted for £41,000, but the business has been sold for £400,000 cash. Thus the liquid position has been greatly strengthened by which to expand in the fields of commercial vehicles and publishing. And several likely acquisitions are under active consideration by the board. In view of the changes taking place and the degree of diversification that is involved, assessing prospects is rather difficult. Difficulties will no doubt arise in carry
ing through a reorganization of this sort. But a board of management that has the courage to make such far-reaching plans appeals
to me as the kind to follow. Therefore, at around their present price of 8s, 6d., these 5s. Ordinary shares seem to me well worth holding. The current yield is just below 9 per cent.
BET Omnibus Services reported that pre-tax profits for the first six months of the current trading year fell to £448,000 from £481,000 for the same period a year ago. Nevertheless, the interim dividend is held at 3 per cent tax free.
Though "confident" about the group's long-term prospects the directors of Appleyard Group warn that prevailing economic circumstances may make the second-half of the current year less rewarding than usual; it is pointed out that the greater part of a year's profit is earned during the first six months. Meantime, for the half-year to the end of June, pre-tax profits amounted to £192,000 against £190,000 for the same period previously. The interim dividend is being maintained at 6 per cent. This was followed last time by a final payment of 9 per cent.
Martin Younger