LIPTONS.
The latest report of Liptons, Limited, would seem to show that the company is now reaping the fruits of the recent reconstruction of capital and general reorganization. Profits for the past year were £118,377, as compared with £1,556 in the previous year, after charging debenture interest in each case. It will be remembered that in the meantime close relations have been established between Liptons and the Meadow Dairy and its associates in the Unilever group. On the reduced Ordinary capital the profits represent over 80 per cent. A dividend is declared of 10 per cent., and £25,000 is allotted to a special reserve for equalization of dividend on the First Preference shares. A sum of £20,000 is also allotted to the general reserve. Moreover, the directors' report adds that the full benefit of the savings resulting from alliance with the Meadow Dairy group has not yet been felt.
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