Company Notes T HE important point to note from the report
Mr. D. G. N. Lloyd-Lowles, chairman of , Tap and Die Corporation, is that profits have been maintained by reason of the company's `st r°rIg overseas sales; these increased by nearly 3 Per cent., which offset the decline in the home Market. The company's position has been con- siderablystrengthened by the recent acquisition nf "D`: the tool division of Smart and Brown at freehold de, together with about ten acres of echoic' property. Reorganisation here will un- doubtedly be reflected in future profits, as will 4 further £300,000 to be spent on new plant and Ilit achinery. The net profit after tax for the year May 31, 1962, is little changed at £380,668, and provides earnirtgs cover of 34.6 per cent. for the maintained 20 per cent. dividend. This wrongly based company can easily benefit from rit upturn in home sales and is one of the most attractive machine-tool investments. The 5s. rtes at 18s. 6d. give a good yield of 5.3 per cent.
t .1-he directors of Pik() Holdings have cer- 41111Y kept faith with their shareholders by ogtving them an annual increase in their divi- t;stid since the company was made public in u 7, since when the payment has been stepped naP from 10 per cent, to 20 per cent. As mann- tofeturers of electrical domestic appliances, most done are sold for cash, the company has she better than most in this field. The balance the t Is very strong in cash at £368,714, agains.t hNentteitai issued capital of £200,000. There is e n20 °f room for an increase in the dividend; I by " Per cent. dividend is covered five times 1 .-' earn" is ,,, ; ilgs. The chairman, Mr. A. D. Webber, ' at -13`lictlY confident for the future. The 4s. shares but, is- give the low yield of 2.5 per cent., c of Course, have scope for the future. 1(tu,„(1.,I°rIci J. T. Trevor, chairman of United t4 x\°-°111 Property Co., reports profits (after env °f £23,744, against £12,788, for the year issued- little 30, 1962, and announces a rights abie cif one-for-six at ]2s. This will consider- v.!.), strengthen the company's position by pro- rhiGling i399 000 in cash to repay £224,350 of "brtga '
ges and leave a balance with which to elziui v■iii
have more to say about future plans and bet, specie at the annual general meeting on Octo- 4 low The final dividend of 81 per cent. makes the 5 °1- 13-1 per cent. for the year, and makes lua A'; shares at 15s. a good investment, yield- r------ ' " Per cent. I
CUSTOS is on holiday
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