AN ENCOURAGING STATEMENT.
Several industrial companies have recently published en- couraging Reports, and the profit announced by the Calico Printers' Association Limited for the year ending June 30th last is a distinctly good one, amounting to 1164,872, after providing £371,263 for maintenance, depreciation, &c., and also £128,000 for Debenture interest. A • year ago, when £366,790 was provided for depreciation, the net profit was only £123,926. This year the Preference dividend, which takes £150,000, has been earned with a satisfactory margin, whereas last year £50,000 had to be transferred from the General Reserve to make possible the payment on the 5 per cent. Preference Stock. The Directors, however, record their inability at present to recommend payment of a dividend on the Ordinary Stock, which has received no distribution since the year 1928-29.
Previous page
