31 MARCH 1933, Page 34

ROLLS ROYCE.

The finances of Rolls Royce Limited seem to run as smoothly as the cars, and no matter how great the trade depression the Reports are usually of an encouraging character. During the past year, notwithstanding the depression in trade, there was a moderate increase in profits, and the amount available for distribution is £151,000, as compared with £144,000 a year ago. The directors, therefore, are able to maintain the dividend at the rate of eight per cent. per annum with a bonus of two per cent, per annum, while there are material allocations to special funds. The balance-sheet, too, is an extraordinarily .liquid one ; the total of cash at the end of the year £283,000 with British Government securities amounting to £584,000.

* * *