TEXTILE PROFITS.
In these days of depression in some sections of the textile industry, it is refreshing to note the satisfactory figures which have just been published by the Calico Printer? Association. Doubtless, with commendable prudence, the dividend itself has been retained at its former level of 71 per cent., but the figures are distinctly encouraging. After providing more than £500,000 for depreciation, renewals and repairs, and, of course, allowing for Debenture interest, the profit for the
year ending June 30th last was £421,317, as compared with only £216,218 for the previous year. In fact, the profits were about double those for either of the two preceding years. A year ago the balance carried forward was materially reduced, the figure being £52,998, as compared with £216,504 a year previously. Now, however, by the conservative policy adopted with regard to the distribution of last year's profits, the carry-forward is raised to £172,705. The market showed its appreciation both of the satisfactory profits and of the conservative policy of the management by raising the price of the shares to about 30s., at which the Ordinary shares give a yield to the investor—allowing for the forthcoming dividend being included in the price—of just under 5i per cent.
A. W. K.
Previous page