10 DECEMBER 1937, Page 50


There would seem to be no Intik to the expanding tendency of profits in the tobacco industry, and for the past year Carreras have again established a fresh high record. The net profit for the year ended Oetciber 31st last Was £1,351,596, as against £1,234,833 last year and £942,000 two years ago. Never- theless, and by reason of the great increase which has taken place in the capital, the actual distribution for the year 35 per cent., compared with 45 per cent. a year ago. It will be remembered that last year there was a scrip bonus of 40 per cent. in the form of £5,669,008 " B " Ordinary shares, which ; additional capital now ranks for dividend, after placing £50,000

' to contintenciea. .

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