Company Notes
VTOKES LTD., of Guildford, are best known as V filtration and silencing engineers,. but the group now covers the manufacture of processing and cleaning plant for a very wide range of pro- ducts and also owns two subsidiary companies making artificial legs and orthopxdic appliances. Group profits have increased with a net profit (after tax) of £260,951 and a small increase in the dividend at 183 per cent. The chairman, Sir lan Stewart-Richardson, reports an excellent and well-spread order book, but with his statement of
the dividend (which includes a 3 per cent. bonus) does not 'indicate what rate of dividend can be expected for the future on the capital now to be increased by a one-for-five scrip issue. The 4s. ordinary shares at 19s. yield 3.g per cent, on the 184 per cent. dividend.
The name of 'Oldham' is well known to motorists, so many of whom use the batteries
manufactured by Oldham and Son. Last year
the company, due to circumstances beyond its control, suffered a setback, but for the year to March 31, 1960, pre-tax profits have risen by as much as 40 per cent. The chairman, Mr. John Oldham, reports that considerable progress has been made in countries overseas—Australia, India. South Africa and France. In Australia there has been an important development, the formation of a company jointly with Dunlop
Rubber. to promote and service the sales of bat- teries. The chairman indicates- even better re- sults for the current year as he states that it is intended to pay the same dividend of 17! per cent. on the capital which is now to be increased by a one-for-two scrip issue. The net profit for the year (after tax) was £57,982. In five years' time when i, arrives at its centenary there should certainly be even greater achievements to record. The Is. ordinary shares at 4s. 9d. now yield 3.7 per cent., hut a 171 per cent. dividend main- tained on the increased capital will produce the very attractive yield of 5.6 per cent.
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