22 APRIL 1938, Page 39

FINANCIAL NOTES

(Continued from page 73o.)

ANGLO-PORTUGUESE TELEPHONE

Sir Alexander Roger, the chairman of the Anglo-Portuguese Telephone Company, spoke with great hopefulness of the prospects of telephone development in Portugal when he addressed the shareholders last week. He believes that telephone development in that country has by no means reached saturation point and that his estimate of a year ago that as a result of the measured rate tariff telephone development will be facilitated and revenue at least maintained will be justified. He anticipates that the net profit at the end of this year will overhaul the temporary reduction experienced in 1937.