ASSOCIATED BRITISH PICTURE POSITION There is an inspiring confidence in
Mr. John Maxwell's review at the meeting of the Associated British Picture Cor- poration. As I pointed out last week, this undertaking has achieved a new record level of profits, and it now seems that, European politics permitting, the Corporation will show even higher earnings this year. Up to date results have been running ahead of those of last year, and I feel that Mr. Maxwell is on safe ground when he predicts that this improvement will continue in a reasonable political environ- ment. Accelerated rearmament means increasing employ- ment and purchasing power' and one of the industries to benefit will be the cinema. As for the Corporation's finances, they are in healthy condition. In the consolidated state- ment of assets and liabilities reserves and undistributed profit balances amount to roughly £4,000,000, or the same as thz
(Continued on page 236)
FINANCE AND INVESTMENT (Continued from page 234) issued share capital, a testimony to the conservative policy pursued in recent years. Given peace, I woula feel very happy in stressing the speculative merits of Associated British Picture 55. ordinary shares at today's price of 12S. 6d., for it seems certain that the Corporation will be able to maintain its leading place in the film industry. These are shares to watch with a view to purchasing if and when the political clouds lift. The yield offered is over 8 per cent.
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