12 SEPTEMBER 1930, Page 40

INITIAL SERVICES.

Yet another industrial concern which has done well during the year is Initial Services, a company which obtains its revenues largely from the supply to City and other offices of teas, clean towels, &c. In fact, the company might be described as a utility company, and the profit shown in the first year's working of £202,000 has been slightly exceeded during the past year when the profit was £210,483. The directors have written off goodwill a sum of £18,604, and have transferred to the general reserve 130,000, raising it to £55,000. They are then able to pay a further dividend on the ordinary shares, making no less than fifty per cent. for the year, at the same time increasing the balance forward and showing a good balance-sheet. * * * *