23 MARCH 1929, Page 46

MAPPIN AND VVEBB.

The annual report of Mappin and Webb for the past year shows ,that there has been a further substantial increase iI the profit, the figure being £102,781 against £86,817. Never theless, the directors continue to pursue a most conservati policy as regards the dividend, which is maintained at 10 per cent., a distribution involving only 125,600 after payment 01 of £36,000 for the preference dividend.- A further sum of L50,000, however, is-added to.the reserve as compared with 120,000 in the previous year. The report states that the extension of the Oxford Street premises is proceeding and IS expected to be a source of further income in the future.