4 MARCH 1938, Page 66

CO1URTAULDS' ACCOUNTS.

The full accounts of Courtaulds for 1937 show that the gross profit rose by £285,283 to £3,430,204. A very large part of the increase was absorbed in taxation. Taxation, including N.D.C., took £1,029,760, an increase of £208,371. The balance carried forward is increased by £83,892 to £296,641. The directors' report-amplifies the warning which was issued with the dividend statement. All sections of the English business are depressed, they say, by the present stagna- tion pervading the whole textile industry. As regards the United States, the directors consider that the outlook for 1938