COMPANY NEWS
GRIFFIN AND SONS, LTD. After full provision for depreciation and taxation, the net profit of Griffin and Sons, Ltd., lor the year ended June 30, 1947 was £20,563, compared with £10,644 lhe previous year. With £4315 brought in, there is £24,878 available. Unchanged dividends of 6 per cent, preference and 7J per cent, ordinary, both free of social security tax, will take £15,598. The sum of £15,598 (£lO,OOO last year) is transferred to general reserve, bringing it to £86,000, and £6067 is carried forward.
The directors explain that the increase of £20,401 19s in the reserve shown in the accounts is brought about by the sale of surplus assets during the year, together with a number cf provisions made during the war to allow for emergencies, which it is now felt have passed. Holders of £1 shares, 2s 6d paid, are receiving notice of a call of 2s 6d a share, payable in October.
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Bibliographic details
Press, Volume LXXXIII, Issue 25273, 27 August 1947, Page 8
Word Count
156COMPANY NEWS Press, Volume LXXXIII, Issue 25273, 27 August 1947, Page 8
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