F 407
British Finance and Comerce,
Robert Hackay.
70
Industrial Profits.
The profits of 2,129 British companies which issued their
reports in the first half of the current year amounted to no less
than £222,518,000. These figures represent net profits, and though
they show some decline compared with the corresponding figures for
the two preceding years, their level is a very satisfactory one in
view of the difficulties of world economy in the period in which the
profits were earned. Horoover, the somewhat lower profits this
year have been concentrated in particular groups of industries,
some of which, such as mining and plantation concerns, derive their
earnings from abroad, while others, such as railways and textile
industries, are already doing very good business tis year.
An encouraging feature is that consumption trades have shown
a very stable trend, and 664 concerns engaged in the provision and
tobacco trades, and in hotels, restaurants etc. have maintained
a profit distribution of over £37 millions in each of the years
1937,1938 and 1959, while electricity, gas and water enterprises
have progressively increased their profits in these years. A
steadily improving profit-earning capacity is also to be observed
in many other industries, especially the engineering trades, metals
and general commodities. In addition, there is now greatly in-
creased activity in coal-mining, iroh and steel production, and
shipbuilding, and this expansion will undoubtedly be reflected in
future profit declarations, when earnings on contract-work now in
progress come to be taken into account.
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