26 MAY 1939, Page 56


One of the most pleasing surprises among recent company results is provided by Madeley Collieries of Stoke-on-Trent, who show a net profit for the year ended March 31st of £38,169, compared with £22,948 in the previous year. This has enabled the company to resume ordinary dividends after an interval of four years with a payment of 5 per cent., and to add £8,231 to reserve, for which there was no appropriation in the previous year, while £6,086, against £4,73r, is carried forward. The balance sheet shows that the company now has a cash balance of £24,950, whereas a year ago it had only £199.

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