Company Notes
14 °NOON County Freehold and Leasehold Properties Ltd. has substantially increased the total group income and the net revenue after a higher tax charge, for the year ended March 31, 1962. The gross rent roll was up from £3,805,000 113 4,0s0,000. The chairman, Mr. T. J. Cullen, advises that contracts to purchase or to build NW, take much longer to complete, but three contracts (two of which have been signed) are 111 respect of : (1) an office, shop and garage ,.., 'ti9ek in Sydney, Australia; (2) a freehold office Luin,ek in the City of London; (3) a long lease- r,"131(1 site of office and shop property in West ;,,entral London. These three projects alone will ,,'",„el'ease the company's rent roll by about '`J00,000 p.a. With these new acquisitions the enrilpany will have a very well balanced port- fn119 of properties which on their book value will represent 51 per cent, residential and 49 per feat offices and high-class factories. This corn- ,'-'lly under excellent management is making r,"`elt(IS.' progress, with an obvious increasing i9:tenlial revenue by 1964-65 when properties 119i.W under construction will be rent-producing. T • uc're is therefore further scope for an increase 11,,, the dividend of Is. 4d. (laSt year: Is. 2d.) 4, " the 10s. shares which at 33s. 9d. give the good return of 3.9 per cent. s. The first report from Empire Rib Co. Ltd. 't,11ce it was made public last- year comes from ,ue chairman, Mr. V. a Royster. and makes Incl reading. The trading profit for the year 111March 31, 1962, was £99,012 (which exceeded iii!.41recastl with a net profit after tax of £34,159. i•ru•ile company produced no fewer than one mil- 11;:l. irMbrella ribs in 1961; of Which the UK 16,`._ about '65 per cent. The balance was sold a :overseas. countries—Australia, New Zealand i1-1 the Far East are very gbod customers. It 4lhe Company's intention in the . future to in- pnse its exports and particularly those to .1-°Pe. The total issued capital is £112,500 in th..,,shares which at 3s. 4-ld. yield 8.5 per cent. on re 30 per eent. dividend. ,1,\ 14•11". H. A. Crowe, chairman of A. J. Wait "..'diPgs) Ltd., tells shareholders that trading \\?ylitions for the year ended February 28, 1962, r, 1'.: bY no means easy. Even so, the trading ,40{3,„ • - - - the 'I of £192,46.3 was another 'record. After tax e,. net profit was £92,741 against £85,118. The w.1.1,11P controls a number of subsidiary companies ,,,,ch provide ancillary services, such as fri-l/e,IlY agents, insurance, store fitters, timber hi nants, blind manufacturers -and builders' f1.,1Aants, operating in Surrey. For the purpose .;1"hlging the issued capital up to £750,000 there div`,t) be a share bonus of one in twenty. The ,a lcknd of l2'' per cent. is maintained on the 2:nna1 as increased last year. The Is. shares at
d. yield 5 per cent.
The eik,l Profits of W. and .1. Glossop Ltd., the kl'e-` engineers and road constructors, arc in- ksineed bye weather conditions, so that pre-tax ttjuts for the year to January 31, 1962, at q:0-.,,3'510 can bc said to be highly satisfactory, til4,7111g an increase of £42,247 over the pre- issi!'s Year. Fast year when a one-for-four rights i t14.1,,e, Was made the directors forecast a final iiiiuend of at least 15 per cent. This total, with a 4 41 °f 20 per cent., is made up to 30 per cent.
4ittt 1
Lt .?t -.-5 per cent. This higher rate is covered 11,, \‘`,Inles by earnings. If the chairman, Mr. O) ' Willsden, can at the forthcoming annual ctit,'ral meeting give a satisfactory forecast of 5.3 rent Profits, the 10s. shares at 56s. yielding
'l' Cent will look an attractive investment.
Previous page
