19 JULY 1935, Page 54

A SATISFACTORY REPORT,

At the recent general meeting of John Ismay and Sons, Ltd.' the Chairman and Managing Director, Mr. John Ismay, pre- sented a very satisfactory Report showing that during the year the profit had increased from £20,000 to over £38,000. A conservative policy, however, is being pursued in the matter of dividend, only about two-thirds of the available profits being distributed. Quite recently, said the Chairman, they had become the subsidiary of a new company called Ismay Industries Limited. They had, he said, found their lamp business increasing and had found it necessary to 'manufacttire quite' ti lot of the component parts Which look like becoming a major business and could not very well be handled as a branch of John Ismay and Sons. They bad, therefore, decided to form a new company which now held about 07 per cent. of the Ordinary capital of John Ismay and Sons. • Mr. Ismay spoke hopefully with regard to the outlook.