OLYMPIA'S REVENUE FALLING Olympia has been on the downward grade
in the matter of revenue for the past three years as a natural and inevitable result of the increased competition in the limited field of exhibition buildings. In April this year it was announced that the half-year's preference dividend, then due, would be postponed, so that the market was prepared for a further sharp fall in revenue. The actual fall has not been so sharp
as had been feared. The net revenue, before deducting debenture interest and taxation, for 1938 fell by £7,316 to £94,236, and the net profit, after making those deductions, actually showed an increase of £196 to £36,938, owing to the lower charge for taxation.
These figures do not include the los= of £33,754 incurred by one subsidiary, Exhibition Promoters (Olympia), which has been charged against capital reserve. Had that loss been charged to revenue the year's net profit would have been insignificant. As it is, it is sufficient to cover 10 months' pre- ference dividend to October 31st and to increase the balance ID go forward by £5,238 to £49,236. * * * *
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