Aero Engines — Bristol Aeroplane The implementation of the Plowden Com- mittee
recommendations would not harm BRISTOL AEROPLANE. British Siddeley Engines, which ac- counted for 65 per cent of the company's in- come in the last report, is engaged in the manufacture of a wide range of military and civil aero engines which will ensure a good order book for years. Bristol owns 10 per cent of Westland and 20 per cent of British Aircraft Corporation, which may be a headache unless the Government takes it over. Earnings under a 40 per cent corporation tax are estimated at 1.76s. and, with a price-earnings ratio of 121, the shares at 22s. 3d., to yield 6 per cent on the 1.35s. dividend, seem fairly priced. The rise in the price of the shares last week was linked with talk of a takeover by Hawker Siddeley.