NEWS IN BRIEF

Press, Volume CX, Issue 32352, 18 July 1970, Page 19

NEWS IN BRIEF

Courtaulds The chairman of Courtaulds, Ltd (Sir Frank Kearton), said the company's profit for the three months to June 30 was down 25 per cent on the same period last year, and the group’s six months results would be down by the same proportion. For the second half year the company thought measures that have been taken would progressively improve the company’s situation. Comstock Report Comstock Minerals, Ltd, during the three months to June 30, had geologically examined 58 separate mineral prospects. Expenditure during the June quarter totalled $78,250. In New South Wales a major exploration programme had been completed at the Frogmore copper prospect, the directors said. Chemical Industry Prospects seemed bright for the establishment of a substantial coal mining industry at Lake Muir, about 200 miles south-east of Perth, the managing director of Cladium Mining Pty, Ltd (Mr Alan Burns), said. Cladium envisaged a chemical extraction industry in which wax would be removed. The company was entering the final stages of a feasibility study and should know the results by early next year. Oil Investments The final dividend of Oil Investments, Ltd, is 7.5 per cent, making a total for the year to June 30 of 17.5 per cent, an increase of 9 per cent for the year. Group net profit was $1,283,747, an increase of 180 per cent, after tax of $25,000. No tax was paid last year. In addition there was a capital profit of $64,486, compared with $82,057 last year. Cambridge Credit Cambridge Credit Corporation, Ltd, has made a private placement for cash of 870,000 ordinary shares of 50c each, at par. The proceeds will be used to take advantage of. additional business. The new shares will rank equally with existing shares and will participate in the dividend from July 1.