ROOTES PROFIT FALLS
Poor Year For U.K. Group
(N.Z.P. A.-Reuter—Copyright) LONDON, Nov. 16. Profits of Rootes Motors group—Britain’s third largest car manufacturers—fell by £2,952,200 in the year ended July 31, the group’s chairman (Lord Rootes) announced today. As with another car giant, the British Motor Corporation, which published its figures for the same period last week, profits have been cut by more than half. Rootes profits fell from £5,863,852 to £2,911,652. The dividend was cut to 4 per cent. The previous year it was 12 per cent. After depreciation, debenture interest and taxation, the group’s profit amounted to £795.810, compared with the previous year’s £2,227.614
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Press, Volume C, Issue 29674, 18 November 1961, Page 17
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105ROOTES PROFIT FALLS Press, Volume C, Issue 29674, 18 November 1961, Page 17
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