Company Notes
By LOTHBURY
MIt. W. E. BUTLIN, chairman of Rodin's, the largest holiday camp organisation in the UK, certainly believes in 'it pays to advertise.' The chairman pointed out that over a million day visitors. sampling what the. group's hundred or more camps have to offer ,before they book, are passing through them every year. This is no longer a seasonal. business, as winter social clubs have been established at Bognor Regis, Clacton and Minchead, which were patronised by 25,000 members last year. Butlin hotels stay open all the year round. Profits, and with them dividends, continue to expand. The net profit before tax for 1962 was up by £338,920 to 0,128,816, and the dividend was raised to 85 per cent, which disappointed some optimists. This year, with bookings in excess of last year's, profits will again be higher. Mr. Butlin believes in providing top value in holiday accommoda- tion and entertainment. His company's .shares at 23s., yielding 3.7 per. cent, are below their best of the year. • Now may be the time to buy them.
Another company chairman who believes in advertising is Mr. H. Scott Thompson, of Mount Charlotte Investments. He does it in a novel way, by offering shareholders special weekend terms (in the off-season) at,the company's hotels. Shareholders this year will . have to travel. to Bristol for the annual, general meeting, but those that do will be given (with their wives or hus- bands) free accommodation for the night with a cocktail. party and hutch to follow at one of the .company's two Bristol hotels. Bettabars and Betiafoods restaurants give a. high standard of fare at popular prices; these, together with Walkers restaurants and Black and White Milk- bars, can be found in and around London. Nutthalls is also now a member of the group. The company's .hotels arc in the. Southern Counties. the West Country and the Channel Islands. The group net profit (before tax). at £216,692 for 1962 compares very favourably with that for the previous eighteen-month period. The company's new head office and general reorganisation, to- gether with improvements in many of its hotels. should ensure another good year. The 2s. 'A' shares at 5s. yield 5.3 per cent.
Another successful year was experienced in 1962 by W. J. Simms Sons and Cooke, the builders and contractors. Throughout the year the company carried out a variety of contracts, which included building multi-storey dwellings for local authorities and the Coal Industry Housing Association, as well as factories and offices. Through subsidiaries the company is doing well with contracting and development work in the Midlands. The joinery department is doing particularly well, having achieved suc- cess in •Canada and, in collaboration with the West Bromwich Borough Council, has designed industrialised buildings and provided homes on land unsuitable for development by traditional 'methods. The net profit of £61,124 compares with £39,568. This excellent progress, which is likely to continue throughout 1963, has been largely financed by bank overdrafts, which sug- gests that more permanent capital may be needed before long. The LI shares at 17s. 6d. yield just over 5 per cent on the dividend of 10 per cent.
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