A REMARKABLE RECOVERY.
It is seldom that one is able to record so remarkable an improvement in the affairs of an industrial company as I am able to do in the case of Powell Duffry-n Steam Coal Company. It was only in last December that the Company was able to resume ordinary dividends after a lapse of seven years. Now, however, a final dividend is being paid of 5 per cent. making tit per cent. for the fifteen months covered by the current report. This dividend is at the rate of £5 4s. per cent. per annum, and after paying it the balance carried forward has been increased from £74,000 to nearly 1109,000- The improvement, however, does not end with the expansion in profits, for the financial position as expressed in the balance- sheet has also been_ greatly strengthened,: largely as a result (Continued on page 1014.) • Financial Notes
(Continued from page 1012.) of well-timed and skilfully conducted debt conversion opera- tions during the past year.
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