Company Notes
By LOTHBURY UP jump the profits of Calico Printers, the textile finishers and retailers, from £1,250,000 to as much as £5,398,000, but the total payment, with a final dividend of 10 per cent, remains the same at 16 per cent.
The prospects for Central and District Proper- ties certainly look good. Its rate of growth continues, as gross rental income is expected to increase by £400,000 for 1965-66 with little increase in outgoings. Net rental income for the year ended March 31, 1965, was £2,649,510 against £2,182,743 and the dividend was in- creased from 9 per cent to 10 per cent. The new corporation tax will not come into opera- tion until 1966-67, when the chairman, Mr. A. L. Ball, is confident the dividend can be maintained. Work is in hand for three major shopping centres, for completion by the end of the year, most of which are already let. This looks a good growth property stock, with the 5s. shares at 15s. 9d. yielding 6.4 per cent.
British Match Corporation, in its report for the year ended March 31, 1965, discloses an increase of assets outside the match industry at 45.7 per cent against 39.6 per cent. None the less, the match industry itself increased its pre- tax profits from 74.9 per cent to 78.3 per cent of the group total. The chairman, Sir Anthony Elkins, tells shareholders that matches now account for less than half the company's turn- over. The group's other interests include wood chipboard, fireworks and packaging, with con- siderable overseas interests in the manufacture of matches. The net profit, after tax, amounted to £2,017,918 against £1,771,629, and the dividend has been stepped up from 2s. 2d. to 2s. 3d. The LI shares at 335. 6d. yield 6.6 per cent, a fair yield for a steadily progressive company.
The Charterhouse Group, whose chairman is Mr. William Ram, gives a glowing half-yearly report to shareholders. The company, whose mer- chant-banking interests have remained steady, has leapt forward in regard to its industrial in- terests. Profits have risen by £648,000 to £2,164,000, and the interim dividend from 1 4/5 per cent to 5 per cent, which will be paid on October 23.
The interim statement from Lord Watkinson, chairman of Schweppes, is not very cheerful or edifying, particularly as no figures are given in support of it. It is appreciated that the second half of the year is always better than the first. However, overseas profits, contributing nearly a third of last year's total, are better, but UK sales of concentrates are a little lower. The interim dividend is held at 4 per cent. On last year's total of 131 per cent, the 5s. shares at us. 9d. are yielding 5.8 per cent.
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