BARTON AND SONS .
INCREASED TRADING PROFIT
e ordinary general meeting of Barton and Sons, Liipited, was held Queens Hotel, Birmingham, on Tuesday, July 25th, 1944, Mr. J. E. "kin, M.I.M.E., M.I.E.E. (the chairman), presiding.
he Chairman said: The value of production during the year con- rably exceeded that of the previous year, and the accounts show the v substantial increase in our trading profit of £78,707 3s. sod., or ▪ roximately 5o per cent., but this, in *view of our E.P.T. standard of fits, is offset by the charge of £16o,o64 for taxation, which is £84,102
▪ xcess of our last year's figure. The amounts set aside for depreciAtion, to meet our obligations for preference capital redemption' are r-uch
same as a year ago ; while a special provision of £6,00o has been made year towards an anticipated loss in closing down a small subsidiary party.
e net sum available for dividend is, as you will see, slightly more than year, viz., £38,347 4s. ad. Your directors are, however, again recom- ding the distribution of a final dividend of 4 per cent., making 7 per for the year with a carry-forward increased by over f000. examination of the consolidated statement of assets Md liabilities uses, in my opinion, a very satisfactory position. The current assets eeding the current liabilities of £126,596, we hold £196,000 of tax rve certificates while our bank position is- approximately square.
e were able, during the year, to acquire certain assets connected with of our associated companies on very satisfactory terms, thus materially using the position of the items included under the heading of other estrnents.
our directors are giving close attention to the post-war prospects of our various businesses ; and while it is generally expected that there be a considerable measure of Government control for some years, anticipate a growing demand for our products. We are confident of ability to meet that demand with the help of our efficient and loyal
s and workpeople, to whom once more, on your behalf, I tender our eciation and thanks. .
e have this year instituted ,a pension scheme for the staff of one of businesses, and propose to extend its benefits to The others, in the tion that it will cement the present happy relations that exist and 111 practical form our appreciation of long and faithful service. resolution for the adoption of the report and accounts was carried usly.
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