PROVINCIAL CINEMATOGRAPH THEATRES.
Mr. Mark Ostrer, the chairman of Provincial Cinematograph Theatres, which is an important member of the Gaumont- British group, had a pleasing picture for his shareholders. The ordinary dividend has reached the record figure of 22i per cent. ; the company has decided for the time being to confine itself to modernising and renovating its existing circuit of theatres, with the result that capital expenditure was cut down by over k300,000, and profits for the current year are so far maintained. This justified him in making the forecast that his statement next year will be not less satisfactory than this year's. He indicated that for the time being reserves were sufficient, but hinted that the more liberal dividend policy which has been followed this year might not be repeated. New problems, particularly the commercial development of television, are confronting the cinema industry, and Mr. Ostrer thought it wiser to reserve the right to consider each year's distribution
on its merits. * * * *
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