HE attraction of the Hodge Group is that I its
interests include not only those of Gwent and West, but others wider spread, including the property division, which has yet to contribute to profits. Another attraction is the group's interests in managing unit trusts. The hire-purchase com- panies in the group may find, with a higher Bank rate, that the going will be tougher, but the cverall picture looks healthy for the future. The chairman, Mr. Julian Hodge, has, as usual, made substantial dividend waivers. A dividend of 65 per cent (the first since the company was made public in March, 1963) is declared on the Is. ordinary shares which, at 9s. 6d., give an attractive yield of 6.7 per cent.
Pre-tax profits of British Wagon for 1963 show an increase at £946,000, another record in the company's history. The dividend, by a final payment of 10 per cent, makes a total of 15 per cent, against 12.5 per cent. The company's main business is the financing of motor vehicles, but other outlets are being found to expand its hire-purchase business, most of which is at present conducted'in the north of England. Hire-purchase losses are at a low level and there
Consuming Interest
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