Company notes
CUSTOS
The post-devaluation gloom has been lightened by a strong statement from Leyland Motor. `We have always been optimistic about de- valuation' said Sir Donald Stokes: 'up to the moment . . . the positive results which we have achieved have been quite startling. ... There is little doubt that if our production programmes are uninterrupted, and provided that the Government does not place too heavy a burden on the motor industry, volume will be increased in all sections of the Group, and overall profita- bility should be considerably improved.' Profit before tax is up from £16.4 million to f18 million, but since this year's accounts include Rover the comparison is misleading.
Slater, Walker Securities are to pay a third interim dividend of 9 per cent, in place of the proposed final of 9 per cent: this makes 16 per cent for the year. The board intends to make a one-for-three scrip issue. It is the Directors' intention at least to maintain the dividend rate of 16 per cent on the increased share capital in 1968.'
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