BANISTER WALTON'S PROGRESS Banister:Walton and Company, the constructional engineers, last
year showed a profit of £65,476—a reduction of about £3,000. After paying a dividend of 25 per cent. for the year, and carrying £25,000 to reserve, the balance carried forward was also reduced by about £3,000. Mr. Arnold Stratham, the chairman, had no difficulty in explaining to the shareholders last week that the reduction in profit was entirely due to the shortage of raw materials from which the company had suffered. Moreover, had the profits of the new subsidiary company, (Continued on page 1079.) FINANCIAL NOTES (Continued from page 1078.) F. Bradford and Company, been brought into account, -.he total profit of the group would have been about £8o,000 and the balance carried forward, instead of showing a reduction, would have shown a substantial increase.
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