COMPANY MEETING
ALLIED INDUSTRIAL SERVICES
INCREASED PROFITS
THE fifth annual meeting of Allied Industrial Services, Limited, was held on 6th instant in Bradford.
Mr. W. H. Rhodes, who presided, said that the directors were able to report an increase in the company's business and profits, which this year, after providing for depreciation, directors' fees and other charges, amounted to £204,695. Adding thereto £1,511, being the profit and loss account balance carried forward from the previous year, less the amount deducted to provide part of the capital bonus distributed in December, 1938, £206,206 was avail- able for allocation.
It was with deep regret that he had to record the loss which the board had suffered in April last through the death of his father, Mr. W. Rhodes, who was one of the managing directors of the company and who for over 30 years had been chairman to the board of directors of Hill, Rhodes and Wilkinson, Limited, the predecessors of this company.
It was his custom at their annual general meeting to touch briefly on the trading prospects of the company for the current year. On this occasion he did not propose to comment beyond stating that since the commencement of the present financial year business had been satisfactory.
In conclusion he expressed his thanks to the managers, staff and workpeople, who had respectively controlled and handled with painstaking care the multiplicity of detail in connection with the immense number of individual transactions involved in a business of such magnitude.
The report and accounts were unanimously adopted and a reso- lution was passed, confirming the payment of the preference divi- dends for the two half-years to June 30th, 1939, and the interim ordinary dividend already paid, and sanctioning a final dividend of 36 per cent, actual for the year, making 5o per cent. for the year, less tax.
The formal business was duly transacted and the proceedings terminated with a vote of thanks to the directors and staff.
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