BEECHAM MACLEAN HOLDINGS.

Evening Post, Volume CXXVIII, Issue 29, 3 August 1939, Page 12

BEECHAM MACLEAN HOLDINGS.

The first results, of Beecham Maclean Holdings, Ltd., Australia, a subsidiary of Beecham Pills, Ltd., London, covering the Hi months from. July 13, 1938, to June 30, 1939, are considered by the directors to be satisfactory.- Net revenue was £275,470 and is £13,555 in excess of the annual reveriue estimated in the offer for sale made on July 19 last of £1,496,000 5 per cent, preference at par. Directors' \fees take £3279 of the profit and income tax £ 74,866. Preference dividend absorbs £52,662. This leaves £144,663, which is equivalent to 26.6 per cent.. gross on the ordinary. The paid 13J per cent, interim on the ordinary required £72,047.' This, with the final of 3J per cent., needing £ 17,672, makes 16| per cent, for the period. A transfer from profits of £54,000 is made to preference redemption fund, leaving a credit to go forward of £944. The assets include £2,250,000 investment in Macleans and £102,307 cash. The capital of £2,250,000 is all issued, and comprises £1,500,000 of 5 per cent, preference £1 shares, redeemable at 22s each, up to July 1, 1945, and £750,000 ordinary in 5s shares.