Company Notes
KLINGER MANUFACTURING Co. 110 stockings, managed to double its profits .° its own technicians, invented methods of speed processing of yarns and now intenel year to September 30, 1960. It has also, the the promotion of high-grade seam-free f r expand its machine-building, division, s° these particular machines may be sold in markets. A pre-tax profit of £195,750 was e and a net profit of £100,755. The chairman, G. R. S. Doyle, looks to the future with I able confidence and advises that the for order position is satisfactory. That bong shareholders, after three dividendless should be encouraged for the future. In 195910i received a dividend of 10 per cent.; this Yna,ritI to be 15 per cent., covered by earnings 01;0 per cent. The Ss. ordinary shares at 9s. Pei' per cent. .1. Brockhouse and Company, general eile; eers, forged ahead this year, profits having Ire new peak at £1,479,038 for the year ended4 tember 30, 1960; the net profit after tax rose l5 £377,222 to £563,568. The chairman, Mr, J?? Brockhouse, points out that the temporary 0;t1 sion in the motor trade will affect the comP3 results this year, so that it would be unwise expect any substantial improvement in Prii during 1961. However, the company's actiny HE SPECTATOR.. DECEMBER 23. e fairly widely based, for, of the twenty-three mlfacturing subsidiaries, about half supply the motor' industry, while others make municipal ,6'eePing vehicles, expanding walls and doors, directors blinds, oil-firing equipment etc. The "'rectors have already spent a considerable sum eS last Year on capital account and plan to spend a further £430,000 on buildings and plant this year 4nd believe that the company will continue to The with the general industrial development. ne dividend has been stepped up from 10 per cent. to 121 per cent., which is twice covered by „`!rnillgs. At 33s. 9d. the shares give a good yield "' 7.4 per cent. 3okenwell Propey Holdings accounts to June 1960, reflect crtonsideroadible capital changes, for ring the year a two-for-three rights issue was made at 8s. each in the 2s. ordinary shares and e share premium account was capitalised by a Fenus issue of £240,984 £1 51 per cent. cumula- preferenceIve preference shares in the ratio of one £1 k c for every ten 2s. ordinary shares, so 1"a1 shareholders have done well. Net profit after ;ix was ,5.510. Unsecured loans amount to 5),500 and there is a bank overdraft of -, ,,i'45,760. The chairman, Sir Cyril Black, MP, :i'vlses that the group is engaged upon a sub- an.tial programme of shop development which will Make a considerable contribution to profits „ 1961-62, and that he is optimistic regarding future progress of the group. Plans arc in i.11(1 for replacing the present temporary bor- :,vings by long-term mortgage loans. The 20 Cent. dividend is only just covered by earn- ,",gs, but these will increase. The 2s. ordinary mares at 9s. 9d. return over 4 per cent.
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