Company Notes
By LOTHBURY .
TIIE chairman of Chesterfield Properties reports that the company has a large development programme on hand which exceeds t5 million. This company carries on business as a 13,roPerty investment concern owning office and snot) properties and sites mainly in London and the Home Counties. The net profit for1962 was 78,000 against £65,000 and justifies an increase n the dividend from 10 per cent to 121 per cent. here have been recent acquisitions in London hich will be developed in the near future and nelude the Curzon Cinema site as well as a timber of properties in the provinces at New- ,e'll, (Mon.), Leigh (Lanes.), Nuneaton, Dun- table, and Attercliffe (Sheffield). The company xPeets to receive increased rental income from hestergate House, SW1, and also, in time, from is property at Basildon. The 5s. shares at 20s. fielding just over 3 per cent have, on the long tew, interesting prospects. There was little change in the group net profit of £208,000) for 1962 from Rest Assured, the dding manufacturers. Group sales advanced in Pile of a reversed trade trend and the company's xhibits at the Earls Court Furniture Show and he bailY Mail Ideal Home Exhibition were very ell received and good business resulted. The "1„PatlY operates in a competitive field but is tiet,l known for its luxury products, which led not only bedding but also easy chairs wa settees. A dividend of 25 per cent was t3eelared on the /s. ordinary shares which at u,,s' 6d. yield 3.7 per cent; the payment is well ,ered by earnings of 2.8 per cent. r.`41dervvriting conditions overseas were mainly -to avourable for the Provincial Insurance 4.0111PanY but it was able to report better results k_rn_,South Africa, West and East Africa and ,tillieniFar P –as1, with an increase of jest over £i• urhiel in total income and an underwriting asi't us of f447,000. In common with other o_s trance companies the fire department made a _/. but the accident and marine departments :utitherecorded an underwriting profit. The book , Li of the company's investments and property ,eeased , the . oy over £1 million during the year. „. .nenairman, Mr. Peter F. Scott, recommends '',,le creased dividend of 3s. per 5s. share. ki:_e.°rd Profits are returned by the Anglo- , ,cr!cue n Corporation for 1962. The gross profit Per cent up • but the after-tax profit, due 1) the introduction of a 'pay as you l' tax cearn' system uia collection, was higher by 15.7 per cent. idiariges the Year the share capital of two sub- .uropeart n wps acquired, namely, African and 'eshnents vestment and New Rhodesian In- iovv . The Corporation's gold mines are kfriea. -rb g a third of all gold mined in South hill h' d mined in S th hitting '1"10emo0e0w Western Deep Levels are now tons of ore a month and last ,,ecernber - .unt. The F
Paid a maiden dividend of 10 per
, . h ree State Geduld mine is still milling nig -grade ore producing over one fine nee per to titablis, 11. A new diamond sales record was ned, whilst the ,, eed about group's copper mines pro- Thodesia ou per cent of the metal from the • e°PPer belt. The group was also re- tensible r 4,zafarticapnrouh.toocartio4On. per cent of South Africa's total Other interests include South We Swazda rd Mills and the development of growing d Railway. A fine company with
g profit .
10 Per record. The dividend goes up titares at ie8e3nt to 100 per cent. The 10s. ordinary
s. 9d. yield 5.4 per cent. . •
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