MICHAEL NAIRN PROGRESS
Sir Michael Nairn, the chairman of Michael Nairn and Greenwich, told the shareholders at the meeting on Tuesday that close co-operation had been established between the lino- leum manufacturers in this country and the industry abroad, and that a joint effort is being made to eliminate, as far as possible, the causes which militate against international trade. Such international action, he explained, resulted from the close co-operation existing within the industry in this country. Sir Michael naturally based much of his confidence upon the spirit of co-operation which has thus been built up. He also found solid cause for satisfaction in the east year's trading results, pointing out that the decrease of £14,396 in the parent company's income was largely explained by the fact that it received its dividends from the operating companies after deduction of income-tax at the increased rate of 5s. 6d. in the £.
Sir Michael also reported that the new manufacturing units at Kirkcaldy were now virtually completed. They would enable the company in future to concentrate more economi- cally on certain grades of linoleum not hitherto produced in quantity at Kirkcaldy and would add considerably to manu-
Previous page