31 MARCH 1939, Page 60

RADIATION PROFITS

Radiation, who manufacture gas stoves, fires and heating appliances, have felt the effects of higher raw material and labour costs during 1938, and have not recouped themselves by higher selling prices. The result is a decline in the year's net profit to £227,831 against £327,682 in 1937. The total dividend of 121 per cent. is maintained for the ninth successive year, but the cash bonus of 21 per cent. which was distributed in the previous four years is not repeated on this occasion. Once again the distribution is conservative, for a sum of £20,000 is added to reserve, and the balance to go forward is raised from £131,689 to £137,168. The consolidated statement shows that stocks have been reduced from £984,263 to £824,o91.

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