17 MARCH 1928, Page 38

The annual report of this company shows a very satisfactory

position, though, of course, comparison is made with a year when figures were adversely affected by the prolonged coal stoppage. Even so, however, the jump in net profits is quite remarkable. For 1926 the figure, including 175,000 set aside for depreciation, was about £262,000, while this year the total of profits is £615,000, and, after setting aside 1175,000 for depreciation and paying the preference dividend, the directors are able to pay a dividend on the preferred ordinary at the rate of 10 per cent. per annum, and on the deferred shares of is. per share, or double the distribution of a year ago. In addition, /175,000 is placed to the reserve, and there is a substantial increase in the carry forward.