A GOOD RECOVERY.
Among other industrial Reports issued during the past week few have been more satisfactory than the latest statement by the British Celanese Company. It had already been announced that the Directors would pay off one half-year's arrears of dividend on the 7 per cent. Cumulative First Preference Shares and that decision is justified by the figures of the Report which show that the profit for the year was £1,200,783 against only £642,824 for the previous year. A hopeful view is taken of the forthcoming year and it is pointed out that the improvement during the past year was secured in spite of the continuous fall in prices. The amount spent on buildings and plant during the year was £120,000 larger than in the previous year, and the Directors state that depre- ciation for the four years up to June 30th has been provided for, bringing the Depreciation Reserve up to a total of £2,481,606. An indication of trading improvement is afforded by the trading balance, which is £2,593,028, as compared with £1,685,550 for the previous year. The balance-sheet shows a liquid position. the Cash being £130,000 higher than a year ago at just over £838,000.
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