16 MARCH 1934, Page 40

Financial Notes


THE report of the United Glass Bottle Manufacturers Limited published for the last year is a particularly good one. It is an industry which has made considerable progress since the War, and during the past decade the profits of the United Glass Bottle Manufacturers have very nearly doubled. The report covering the operations for the year 1933 shows that the trading profits amounted to £211,901, against £202,281 for 1932, and £182,354 for the previous year. The Directors continue to adopt a cautious and prudent policy with regard to the allocation of profits, still confining the dividend to 74 per cent. on the Ordinary shares, after placing substantial sums to special reserves. In connexion, however, with plans for important developments and improvements at the operating centres, the Directors are now making a fresh issue of capital and are offering to Ordinary shareholders, on the 26th of this month, new Ordinary shares at the price of 28s. per share in the proportion of one new share for every five shares held. The issue constitutes a very good share bonus.