LEYLAND MOTORS, LTD.

Southland Times, Issue 20666, 23 April 1929, Page 2

LEYLAND MOTORS, LTD.

REMARKABLE PROGRESS. During the past few years a remarkable recovery has been shown by the famous British firm, Leyland Motors, Ltd., of Leyland, Lancashire, manufacturers of commercial and passenger vehicles. The balance sheet presented to the annual meeting on February 27 showed a gross profit of £586,693 12/9, and a nett profit of £405,998 11/0. These figures are an increase of 50 per cent, and 75 per cent, respectively over the previous year’s. The company's assets, comprising land, buildings, plant, furniture, patterns, etc., arc valued at £1,045,158 11/7, while stock in trade and work in progress represent £1,101,627 0/3. In discussing the balance-sheet, Mr. Duncan F. Beauchop, general manager for New Zealand, mentioned that five years ago the company was indebted to the bank to the extent of approximately £900,000, and by re-organization and exceedingly good work this liability had been completely wiped out ; further, there are no mortgages or debentures of any kind in existence. At the date of leaving of the last mail from England ■ the company were behind the order book to the extent of 1,200 vehicles, largely buses. The firm, which has been established over forty years, is to-day in a sounder position than it has ever been, and the outlook is very promising.