COMPANY MEETING
ALLIED INDUSTRIAL SERVICES
INCREASED DEMAND THE third annual general meeting of Allied Industrial Services, Limited, was held on September 29th, at Bradford, Mr. W. H. Rhodes presiding, The Secretary (Mr. C. Gordon Slaker, C.A.), having read the notice convening the meeting,
The chairman said : Your directors are pleased to report that the increased demand for the Sponge Cloths Supply Service and Industrial Garment Supply Service, the two services your company provides, together with more extensive facilities and equipment for handling a greater volume of business, have resulted in a profit for the year ended June 30th, 1937, of £128,467, 3s. sod.
You will notice this year- that certain changes have been made in the form of the accounts • the proposed final ordinary dividend is already provided for in the balance-sheet and the profit and loss account balance is that carried forward to next year. I might also add that the capital reserve account, which represents the profits of the company earned prior to incorporation, has been debited with the income tax payable in respect of such profits.
As I have already mentioned, the profit for the year amounted to £128,467 3s. iod., and, together with £7,952 as. id., the balance brought forward from last year, after providing for ordinary share capitalisation, makes a total profit for allocation of £136,420 is. I'd.
The report now before you sets forth the transfers to taxes reserve, general reserve, dividends already paid and the proposed final ordinary dividend, leaving a balance of £19,292 5s. 2d. to be carried forward to next year.
It has been my practice on these occasions to say a few words relating to the trading prospects of your company for the present year. During the opening months of our current trading year the amount of business done has been satisfactory and I feel that provided the general trade of the country remains good we can reasonably anticipate that the business done by your company will be satisfactorily main- tained.
Before closing my remarks I should like to express your board's appreciation for the loyal and painstaking services to- the company rendered by our managers, staff and- workpeople during the past year
The report and accounts were unanimously adopted and a final dividend of 371 per cent. on the ordinary shares was approved.
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