TRINIDAD LEASEHOLD ACCOUNTS.
The latest accounts of Trinidad Leaseholds, Limited, provide further justification of the policy of the directors in embarking on the distribution of petrol products in this country; Some years ago, in consequence' of -the ,difficulties . which faced the company in the United States, where it had previously been selling its output, -the directors purchased a relatively small. oil distributing business, which became the nucleus of the - company's new extensive distributing organisation for Eiapire " Regent motor spirit. The success of MS drastic Change of policy under recently favOurable distributing conditions is shown by the rise in the company's profit from £430,679 in 1933-34 to £549,492 in the year to June 30th last, and the increase in the total dividend from 121 per cent. to 17.1 per 'cent. Improved profits are attributed in the annual report' to a reduction in working costs, -as well -as to larger sales. Adoption of a well-timed policy in distribution thus seems to- have been backed by careful management, while the strength of the latest balance-sheet provides ample evidence that there has been no departure from the conservative finance which the company has -always employed.
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