HOTEL. FINANCE.
Congratulations to the Gordon Hotels upon the results of the past year. The company has passed through a strenuous time but economy, joined to rigorous management, appears now to be bringing good results, although, of course, it must be remembered that the dividend just announced is on a reduced capital consequent upon the reconstruction scheme
last year. It is, however, the expansion in general business and the remarkable growth in profits which encourages hopes ivith regard to the future. The increase in the turnover was only 19000, but that is greater than appears on the surface because the previous year's figures had included the results of the First Avenue Hotel which has since been sold. More- over, the net profit is almost doubled, the amount for the year being £141,000 against 184,000 and for the first time Since 1914 the Ordinary shareholders receive a dividend, the amount being 5 per cent.
Previous page
