Company Notes
By LOTHB.URY
TISCOUNT ECCLES, chairman of West Cum- V berland Silk Mills, anticipates another good year, particularly regarding an increase in ex- ports to . all the company's overseas markets. Another good year ended March 31, 1965, was experienced, with pre-tax profits up from £228,076 to £283,395 and the dividend from the equivalent of 15 per cent to 19 per cent. The extension of the mill at a cost of £125,000 should ensure further profits. The shares at 9s. yielding 4.2 per cent are one of the better textiles to hold.
Mercury Securities secured a widespread up- swing in profits for the year ended March 31,. 1965. Shareholders were rewarded by an extra 5 per cent bonus on top of the repeated 35 per cent dividend. Net profits rose by approximately £270,000 to £1,307,009 after allowance for a transfer to reserves by a banking subsidiary. As merchant bankers its new interest in Metro- politan Pensions Associates contributed largely to profits as also did a thriving metals market to its metal division. There should be no doubt about the dividend being at least maintained for the current year. The 5s. shares at 43s. yield just over 4 per cent.
Lombard Banking reports for the half-year ended June 30, 1965, that profits continue to show an upward trend. The interim dividend of 5 per cent is repeated. Profits for the half-year. after taxation, at £619,000 compare very favour- ably with the full year's profits for 1964 of £852,000. Corporation tax has been allowed for at a rate of 40 per cent. The 5s. shares at 13s. 6d. yield 7.4 per cent on the last total dividend of 20 per cent.
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