17 MARCH 1928, Page 38

A TURN IN THE TIDE.

The reduction in the capital arranged last year by Handley Page Limited seems to have marked a turn in the tide of the fortunes of the company. The accounts for the past year show a profit of £46,638 on a total capital of only £206,644. The directors, however, are pursuing a sound and cautious policy, and, after placing 115,000 to reserve, are only paying the fixed dividend on the 10 per cent. preference shares and are carrying forward £11,724. This policy, however, makes the outlook both for the participating preference shares and the deferred shares a fairly good one. * * * *