Profit and Loss
Page 9
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Maxima Lubricants, Ltd., made a net profit of £25.871 in the year ended March 31 -last. A dividend of 40 per cunt. is to be paid on the ordinary shares.
Greenwood and Batley, Ltd. earned a trading Profit. plus interest and omit on the sale of buildings, of £135,814 in the rear ended March 31 last. The net profit was £44,261. A sum of £10,000 is being placed to reserve. A, dividend of 15 per cent. is being paid on the ordinary shares.
-BroutBow aid Edwards, Ltd., made a net.prolit of £39.593 in the year ended March .31 last. After deducting directors' fees, deprecation and taxation, the net profit stood at £16,818. A sum of £1,6,500 is being placed to general reserve.
A dividend of 10 per cent, and a bonus of per cent. are being paid.
Glacier Metal Co., Ltd., reports having made a trading profit of £262,840 in the year ended February 28 last. 'A net profit of 1107,919 remained after allowing for depreciation, directors' remuneration, pension of past director, audit and accountancy, profits tax and income tax. A dividend of 7U per cent: is to be paid on .the ordinary shares.
Grimsby Transport Department made a , profit of £1.758 in the year ended March 31 last. The motorbuses recorded the loss of £15,275, but there was a gross profit of £17.033 on the trolleybuses. Loan charges totalled £22.292, making a net charge to the reserve account of £20.345. The number of passengers increased by 1,313,666 to 34,384.172. Mileage also increased.
Angto-Iranian Oil Co., Ltd., reports a trading profit of 150,700,804 in the year ended December 31 last, The profit for the year, before charging taxation in the United Kingdom. but including income from subsidiary companies, etc., was £52,782,241. Profits tax and income tax totalled £28,310,353, and the net Profit was 124,471.888. A final dividend of 25 per cent. is to be Paid, making 30 per cent, for the year.
Edmunds, Walker and Co., Ltd., made a trading profit of £181.800 in the year ended March 31 last. A balance of 1165.427 remained after allowing for depreciation, directors' emoluments. legal and other chargesaudit fees and expenses, and registrar's fees. Profits tax absorbed £30,270. income tax £62,824. and general reserve £25,000. A final dividend of 30 per cent, is to be paid, making 60 per cent, for the year.
Henry Meadows, Ltd., made a trading loss of £6,
After allowing for directors' reninneraton, auditor's expenses, bank interest and depreciation, the deficit was 463,283. .Credits in respect . of previous years and transfer' fees reduced the loss ta £51,748. A total adverse balance of £244,584. ishieli includes stuck provision of £124.500, allowance fordeferred repairs of £10,570 and for loss on debt of £57,766, is carried forward.
Duple Motor Bodies, Ltd., announces that after charging profits tax of £37,000 and crediting a reserve of £25.000 on account of loss incurred in a strike in April, 1948, its net profit in the year ended March 31 last was £226,823. Income tax and, property tax are estimated at £96,352, arid £70.000 is being placed to capital reserve. A final dividend of 121,!. Per cent. is to be .paid on the ordinary shares, -making 20 per cent, for the year.
A.P.V.„ Ltd., made a net trading profit or 1265,684 last year. A net trading profit of £320,092 appears in the company's consolidated accounts. This sum is increased to 1.336,5l5 fly the addition of royalties and trade investments. The parent company made a trading profit of £117,693, which was increased to £334,116 by royalties and trade investments. Alter allowing for depreciation, bank interest and audit fees, the net profit was £270,898. A dividend of 50 per cent, is being paid on the ordinary shares Birmingham Transport Department made a gross profit of £316,515 for the year ending March 31. the amount for appropriation being £29,454. Tramways show a debit of £143,226; motorbuses a gross profit of £495,420, a reduction of £83,816 over the previous ycant figure; and trolleybuses a gross prolit of £1,384, as against £12.800. Mileage increased by 2,397,643 to 49,884,062 and the number of passengers by 31,400,146 to 545.745.320. Gross revenue was increased by £246,847 to £5.120,320. Gross Operating costs rose by £379,142 to £4,803,805. Gross motorbus revenue was (3.875,99 , representing an increase of £279,182, it is expected that bv i953 all trams and trolleybuses will have been replaced by motorbuses.
Leicester Transport Department reports a total deficit of £49,861 in thc year ended March 31 last. The trains accounted for £16,321 of it, the motorbuses £33.023. and reconstruction of the tram depot £517. The deficit will -be met out of reserve and this fund will drop to £6,472. The loss was caused mainly by additional loan charges amounting to nearly £33,000 for new buses. Tram receipts totalled f284.758 (25,144d. per tram-mile), Motorbus receipts amounted to £479,423 (23.176d, per bus mile). The whole undertaking carried 102,344,476 passengers over 7,679,768 miles.The number of passengers carried was a record. Mr. Charles H. Stafford. general manager, reports that the general fares revision on February 13 last was estimated to bring in £52,0110. in a year.. Had the proposed increase for workinan's fares been authorized, revenue would have risen by' about £75.000 in the year.