TRIPLEX PROFITS LOWER
It was expected that the Triplex Safety Glass Company would show a slight reduction in profits for the year ended June 30th, and the results announced last week are fully up to market expectations. The net profit, at £163,489, was only £2,922 lower. The dividend has been reduced from 25 per cent. to 20 per cent., but the new shares issued to holders of the Lancegaye Safety Glass shares now rank for dividend. Allowing for the fact that the ranking capital has increased from £500,000 to £645,56o, the gross cost of the past year's dividend is about £4,000 higher than in the previous year. How far, if at all, this has been offset by dividends on the Lancegaye shares now held by Triplex is not shown in the preliminary figures. It is possible that but for the merger The decline in Triplex earnings woukl have been a little sharper than now appears, but it seems unlikely that Triplex has yet obtained any large return on its new investment.
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