F. FRANCIS AND SONS
DIVIDEND OF 14 PER CENT.
forty-first ordinary general meeting of F. Francis and Sons, Limited, kid on May 28th in London.
John Ismay, the chairman, said: The net profit for 1941, at '78, shows a reduction of £7,585. In arriving at this figure, however, Id point out that the whole of the company's liability for War ge Contribution and War Risks Insurance has been charged against . I draw your attention to this fact because no doubt you will have .ed from various company reports, which have appeared during the few' months, that this procedure is not always adopted.
year has had to bear the full too per cent. E.P.T., against 90 per for the previous year, and whilst we are proposing a final dividend Per cent., making 14 per cent., the same as the previous year, the in taxation, together with the Government insurance liabilities usly referred to, has resulted in our carry-forward being only d from £20,549 to £21,702. If, however, you will refer to our dated statement you will sec that the balance of current assets liabilities is increased by £2,246 to £112,723.
will see, therefore, from these figures that there is no prospect increase in dividend so long as E.P.T. remains at too per cent. will observe from the balance-sheet there has been slight increase hold properties, and an increase on shareholdings in subsidiary ,es. The latter item is, in fact, actually represented by buildings liVears as such in the consolidated statement.
nate provision has been made fo: depredation, and assets remain conservatively valued. With regard to the future, whilst it is quite • ble to forecast under existing conditions, I can only say that your views the future with confidence. report was unanimously adopted. '.
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