23 FEBRUARY 1929, Page 47

BOVRIL PROGRESS. _

Although there was a slight decline in gross profits of Bovril, Limited, for the past year, net profits improved by £6,000 to nearly £367,000, and this improvement- was established in spite of a further rise in the cost of raw materials. Once again, in addition to the Ordinary dividend of 71 per cent. the directors are able to pay 18 per cent. on the Deferred shares, placing £60,000 to reserve, and carrying forward. 171;135.' During the year interest charges have been somewhat larger owing to a fresh issue of eight-year notes during the year. The report, however, in all respects is a good one, and in this

company, as in the ease of Courtaulds' confidence of share- holders is increased by the years of conservative management.