FACTS FOR INVESTORS.

Auckland Star, Volume LIX, Issue 305, 26 December 1928, Page 4

FACTS FOR INVESTORS.

BRITISH TOBACCO CO,

'SATISFACTORY PROGRESS."

The first balance-sheet of the British Tobacco Company (Australia) to be issued since the reconstruction last year covers the twelve months ended October 31 last. The net profit disclosed for the year is £916,506, representing dividends from subsidiary companies and interest on securities held.

The 6V4 per cent preference dividend requires £96,507, while 10 per cent on ordinary capital takes £813,456, a total distribution of £909,953, leaving a balance of £6553 to raise the carry forward to £7659.

The previous net profit disclosed by the company was £786,876 on account of the twelve months ended January, 1927, for which year dividend payments required £785,435.

Total reserves shown in the balancesheet under review are only £7659, compared with a paid-up capital of £9,619,186, of which £1,484,727 is in QVg per cent" preference shares.

The principal item in the balance-sheet is "Shares in Subsidiary Companies," which are now shown at £7,722,192, compared with £5,398,061 at the end of January, 1927. This increase shows the source from which the bonus issue of £2,312,328 was made last year.

The only comment that the directors make is that the business of the company is making satisfactory progress.

Shareholders are to be asked to amend the company's articles of Association to permit the listing of the shares on the London Stock Exchange.

Since the close of the financial year the dividend has been increased to 11 per cent per annum.

When the Stock Exchange closed for the Christmas holidays there were buyers at £2 4/9 with sellers at £2 5/6. At £2 5/ the scrip gives a return to investors of £4 17/ per cent.

MOUNT LYELL SHARES.

Mount Lyell stock has been the third most active on the Melbourne Exchange during the past year.

HOLDEN'S MOTOR BODY BUILDERS

HoUlen's Motor Body Builders, Limited, is understood to have had a record month for November, when the output was higher than for any previous month in the history of the company.

This increase in activity was due to some extent to the accumulation of orders arising from the closing of the works for some weeks, owing to the dislocation of shipping caused by the waterside workers' strike.