AMALGAMATED COTTON MILLS TRUST.
The results which are now coming forward from leading cotton spinning companies reflect the wider margins and heavier order books which were the general experience over most of 1937. Following upon the remarkable increase in profits shown by the Lancashire Cotton Corporation, the results of Amalgamated Cotton Mills Trust reflect similar recovery. The present accounts relate to the year ended August 28th and have been delayed by the capital reorganisation of last July. The consolidated =ding profit of the Trust and its subsidiaries for that period was £266,709, compared with £85,935 in the previous so months. The net profit after taxation was £166,707 against £2,530. It is thus possible to add a substantial amount to reserve and to resume dividends on the written down ordinary capital. A tax-free dividend of Id. per is. ordinary share is proposed ; a sum of £70,000 is added to general reserve and £30,000 to stock reserve, leaving
Previous page
