Company Notes
By LOTHBURY
'ENE BEERS CONSOLIDATED MINES chair- .] Jman, Mr. H. F. Oppenheimer, reports that sales in 1964 by the Central Selling Organisation were, at R.266,372,000, a record for the fourth successive year. The group net profit, after tax, rose from R.49,298,000 to R.69,669,000. A further increase in South African taxes is causing the group considerable concern, but the chairman advises that the company is continuing its policy of diversification by investment outside the diamond industry. These investments are now valued at R.212,310,000 against R.188,680,000 in the previous year. Sales of gem stones and in- dustrial diamonds are expected to continue to ex- pand during this year and 1966, which suggests that the 5s. deferred shares at 164s. 3d. are still an attractive investment yielding 5.4 per cent on the 9s. dividend.
Mr. Joseph Collier, chairman of Untied Drapery Stores, draws shareholders' attention in his report for the year ended January 30, 1965, to the company's uninterrupted growth over the past ten years. During that period profits, after tax, have risen from £113,439 to £6,108,912 and net dividends paid to stockholders from £57,625 to £3,339,597. He states that, in spite of the additional burden of costs which the new budget proposals impose, progress and development will continue. He looks with confidence to another year of successful trading. The 5s. shares at 2s. yield 4.7 per cent on the 26 per cent dividend.
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