TOBACCO PROFITS.
It was fitting that at the recent meeting of Carreras a tribute to the memory of the late Chairman, Mr. Bernhard Baron; should have been paid by his son, who presided over the meeting. As regards conditions during the past year the Chairman stated that it had been a year of intense competition, but nevertheless good progress had been made, the profit having reached the new high record figure of £1,285,000. The proposed bonus issue of shares, he said, was made in pursuance of a policy of bringing the capital more into line with the profits earned, but he was careful, to add that future dividends must, of course, depend upon tfietesults of individual years. It is, indeed, very necessary that in the case of these expanding capitals, shareholders should not be expecting that dividends and bonuses can be on the same scale as when the capital was smaller.
Previous page