BRITISH TYRE AND RUBBER COMPANY
DISTRIBUTION OF 10 PER CENT. MAINTAINED SIR WALROND SINCLAIR'S ADDRESS THE thirteenth annual general meeting of British Tyre and Rubber Company Limited was held yesterday in London.
Sir Walrond Sinclair (Chairman and Managing Director) said it gave the directors great pleasure once more to report an increase in the company's profits at a total of £226,289 as compared with £204,659. That was a most gratifying result as, though trade conditions in this country had, generally speaking, been favourable, the board had nevertheless had many difficulties to surmount. The directors now recommended a final dividend of 4i per cent, together with a cash bonus of 2 per cent., making a total of so per cent. for the year. The balance sheet again reflected the continued expansion of the company's business, and it was probable that before the presentation of the next balance sheet a profitable use would have been found for a large proportion of the company's surplus cash resources.
PROGRESS IN ALL DEPARTMENTS.
He would emphasise that the further progress made during the past year was firstly the result of an increased turnover in practically all departments of the company's business and not of unusual activity in any one particular field, and the increased profits did not reflect the results of any large orders of an exceptional or non-recurrent character from the Government or from industrial or other cus- tomers. The high quality and reliability of their company's products was widely appreciated.
The principal subsidiary, the India Rubber and Gutta Percha Company, had experienced a satisfactory increase in turnover in practically all departments. All their other subsidiaries had made satisfactory progress and in the aggregate had increased contribu- tions to the parent company's profits.
He was confident that the company was better equipped than ever before to take full advantage of every trade opportimity, or conversely, to withstand unexpected shocks.
The report was unanimously adopted.