* * * •
v.b.c. •
Although the final dividend of Venezuelan Oil Concessions for the past year was 10 per cent., agairist 121 per cent., the market had looked for the reduction, and regarded the figures as satisfactory. . There was a fall in gross. inwn'e, from £3,084y-737 to •£2,855,987.. Expenses in .Veneztfelii.were lower and depreciation took £479,671, against £532,499. The net profit was £691,851, against £915,912. The Report states that the Company is still pursuing a policy of voluntary 'restriction, and a number of productive wells are closed in order to provide reserve capacity. The balance-sheet -shows a liquid position, British Government Securities standing at £2,604,089, Treasury Bills at nearly £75,000 and cash at over £151,000. At their present price of 111 the Ordinary shares yield -just over 5 per cent. ,
Previous page
