A PROGRESSIVE INDUSTRIAL.
The latest profit statement of Turner and Newall, the asbestos combine, shows remarkable progress, and a fresh high record of earnings has been established. For 1936 the net trading profits amounted to £1,163,000, while for the current year they reached £1,333,000, a figure -which has enabled the- directors to increase the dividend from 17f per cent. to zo per cent., and that notwithstanding the fact that the dividend is now payable on the larger capital. In addition to large allocations to special funds, the directors this year have set aside a sum of £4o,000 as estimated liability for N.D.C. in respect of the half-year ended September 3oth last.
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