7 JULY 1928, Page 40

A:SOWND CONCERN.

At first the market was disposed to be disappointed at the absence of any increase ,in the dividend on the shares of Distillers Limited, the distribution remaining at the rate of 20 per cent. It is clear, however, from the annual report that the absence of any increase in the dividend is entirely due to the sound and conservative policy of the directors, for the profits amounted to £2,434,542, being an increase of over £100,000. This year, however, the allocation to the Reserve was no less than £400,000 as compared with £200,000 a year ago, while the amount carried forward has been increased from £182,000 to £213,000.

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