Company Notes
By LOTHBURY
As previously reported, the group net profits ,n for the year to March 31, 1963, from Great Universal Stores were £13.152 million against El2.229 million. Once again this was a record. The final dividend of Is. 2d., plus the interim dividend of 6d. on the capital last increased by a one-for-three scrip issue, makes a total of Is. 8d. This is equivalent to an increase of 2d. per share on the old capital. There are one or two points worth noting which were made by the chairman, Sir Isaac Wolfson, in his re- port. The mail-order business, which now accounts for about a third of the group's busi- ness, is a most dynamic section and has been further strengthened by the completion of the
• purchase of the Chorlton Warehouse Co. A 75 per cent interest has been acquired in Welkamp, the leading Dutch mail-order company. The Global travel division acquired Ellis Air Tours and Tailorfit was added to the men's tailoring division; supermarket •interests have been ex- panded. On the total dividend of 334- per cent, a one-for-fifteen scrip issue is proposed in 5s. 'A' Ordinary shares, which are now yielding 3.0 per cent at 55s. The shares should continue to be a very fine investment.
The boom in motor-car production which started last November set Triplex Holdings on the road to recovery. Trading profits for the year to June 30, 1963, jumped to £2,087 million against LI.830 million. The dividend is up by 3 per cent to 18 per cent, more than twice covered by earnings from net profits of £753,000 against £600,000. A one-for-one scrip issue is proposed. The group controls three engineering
companies, but profits are almost entirely derived from sales of safety glass, which, of course, is dependent on the motor industry. The 10s. shares at 60s. 3d. do not give a generous yield--3 per cent—but at the present time the outlook for the company is good. Its fortunes in the past have fluctuated.
Accounts for the year to April 30, 1963, from Alec E. Colman show a very big rise in proper- ties held for or in course of development. The figure has risen dramatically from £511,000 to £10 million to date. The portfolio is not, how- ever, first-class, as it contains a large number of residential properties in the London area, but the development programme will .increase the num- ber of commercial properties. The group net profit for the year at £57,893 was up by over 40 per cent; the dividend is increased by 1 per cent to 20 per cent. The company has a 50 per cent in- terest jointly with Central and District •Proper- ties in a block of office property in Boston, US. Its development programme in the UK is enor- mous, and prospects, says the chairman, Mr.• Alec E. Colman, are very good indeed. It may not be all plain sailing ahead, but the group has financial backing from the Guardian Assur- ance Co. The 4s. shares at 17s. 6d. give a fair yield of 4.5 per cent.
Profits for the year to March 2 from Home Telerentals increased by £115,000 to £937,000, but the dividend stays at 18 per cent. Profits from both the television section and the dry- cleaning section (there are now 377 shops) im- proved. Sales from the telehire service, as dis- tinct from the rental service, increased by 60 per cent. The company has built up and is ex- panding its range of shops and appears to have better prospects than some of its competitors. The chairman, Mr. R. G. Cooke, is confident for the future. The Is. shares at 4s. 6d. yield 4.0 per cent.
Mr. G. B. A. Clarke, chairman of George Clarke (Motors), gives a good account to his shareholders for the year ended March 31, 1963. This is his first report since the company was made public in June, 1962. The results are very close to the prospectus forecast, for, in spite of the bad winter, pre-tax profits of £66,512 were made and a dividend of 17.5 per cent is de- clared, covered 1.8 times by earnings. With the motor-car industry doing so well, this company should share in its prosperity. The Is. shares at 3s. yield 5.9 per cent.
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