COMPANY NOTES
"THIS wonderful summer has packed the holiday I camps, and Pontin Camps shareholders who took up their rights issue in February will now be doubly pleased with the results to May 31, 1959, even though they cannot reflect the good 1959 season. Existing camps have been improved and extended and further acquisitions have been made. The trading profit has risen to £122,000 and the net profit, after tax, by £40,000 to £94,000. Two interims of 10 per cent, each have fieen paid. These have now been followed by a final 5 per cent., making 25 per cent. for the year against 20 per cent. for a fourteen-month period. For the current year, the directors have increased the first interim payment to 121 per cent.-surely indicating an increased total dividend next year. The 2s. ordin- ary shares at 8s, 1+d. yield 6.0 per cent, on the 25 per cent. dividend covered by earnings of 33.5 per cent.
Rael-Brook Holdings are well known by now for their much-advertised men's Toplin non-iron shirts and amongst other products for the Lady Toplin blouses. The company's year, ended April 19, 1959, produced an increased trading profit of £196,722, but the net profit after tax was slightly lower at £77,056 against £89,637. However, the chairman, Mr. Barry Rael-Brook, advises that sales for the current year have been more buoyant and he is hopeful that expansion of the business will continue. The dividend on the 4s, convertible preferred ordinary shares is again 30 per cent. covered by earnings of 34.6 per cent. These shares at 12s. yield 10 per cent.
The chairman of Finneys Seeds tells share- holders that the company has now been trading for over two hundred years, during which time it has had to face ever-changing climatic condi- tions. The dry summer this year has been excellen1 for ripening seeds so that qualities for next year will be exceptionally good. The company nol only supplies all kinds of seeds for horticulture but also for agriculture to farmers. It has recently completed an addition to the Newcastle ware' house and a modern annexe for the subsidiary company Toogood and Sons at Southampton. The balance sheet to June 30, 1959, discloses the large sum of £337,619 in respect of trade debtors, but this should cause no concern and is mainly in respect of amounts owed by farmers, who have doubtless had a very good harvest this year. The trading profit was £109,556; tax absorbed less this year at £38,875, leaving a net profit of £44,606 as against £30,153. The dividend is to be increased from 121- per cent. to 15 per cent. Tlfe 5s. ordinary shares at 8s. 3d. yield 9.1 per cog Leeds Permanent Building Society is looked upon as one of the big five amongst the member, of the Building Societies Association. Figure! announced for their year to September 30, 1959' disclose that total assets have risen by 11.3 per cent. to £129,227,842. Mortgage advances es' ceeded £20 million-a record-and 99.9 per cent. of this amount was to owner-occupiers Of private dwelling-houses. Total reserves are nos, £7,400,000, equal to 5.73 per cent. of total assets. which is more than twice that required for truste status.
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