4 NOVEMBER 1932, Page 40

A GOOD PROFIT STATEMENT.

The profit statement of Murex, Ltd., for the year ending June 30th last is a thoroughly satisfactory one, the -trading profit being £54,526, as compared with only 148,666 in the previous year. On the other hand the income from dividends on investments brought in only £21,806 against t34,207. Nevertheless, the position is good as regards the amount- available for distribution, for in the previous year a loss on forward contracts for raw materials amounting to over 1.33,199 was debited as to £16,599 to Trading Account and £16,600 to General Reserve. The directors, pursuing_ a conservative policy, however, have not increased the distribution to share- holders, which remains at 35 per cent., of which-15 per cent.