Company notes
CUSTOS
Sir Brian Mountain, chairman of Eagle Star, forecasts continued growth—`our investment activities are particularly well founded and the Life Department represents a very important part of our business.' Profits brought in from the Life account rose from £1.26 million to f1.64 million, the company benefiting from a new agreement with the Inland Revenue. The Fire and Accident accounts again showed a loss, mainly on foreign risks. Sir Brian, though wekOming the mergers among insurance com- panies, sees no need for Eagle Star to join in.
The London Brick Company is being sug- gested On the stock market as the possible reci- pient of Redland's next bid. Sir Ronald Stewart, announcing an increase in pre-tax profit from £3,233,322 to £4,007,505, tells shareholders that the capital programme begun seven years ago is now completed; and that the board is having the company's-fixed assets revalued. Results this year are running ahead of those for 1967.
Morgan Crucible gained 029,000 from de- - valuation, and Mr A. L. Stock, the chairman, says that the new rate of exchange will 'notably increase' profits from exports and from over- seas subsidiaries. The broad picture he paints is of a company shedding its money-losing activities—last year, blast furnace and insulating bricks, and this year perhaps high tension insula- tors. Among sources of growth, Mr Stock men- tions the established operations in carbon com- position resisters and non-ferrous metal castings. He forecasts 'some recovery' in profits this year.
Crittall-Hope has suffered a most untimely loss from its German subsidiary, which has re- duced the group's profits for the second half of the year to 002,000.
Previous page
