16 JULY 1937, Page 38

RICHARD THOMAS PROGRESS.

The report of Richard Thomas and Co. gives an account of the position of the eompany and the group of which it is the centre. The gross profit of the parent company of £759,412 compares with £645,906 for the previous year, while the net profit of £701,517 against £606,609 is reached after a considerably larger allowance for depreciation. It is now proposed to transfer £125,000 to Reserve for Contingencies; the object is to provide for any losses in respect of debts due from Spain to one of the controlled companies. The dividend of 15 per cent. on the Ordinary shares for the year ended March 31st last compares with 124 per cent. for the previous year, with a carry forward of £468,521.