CROTHALL PROFIT

Press, Volume CV, Issue 31001, 5 March 1966, Page 18

CROTHALL PROFIT

Sharp Rise To £35595 Consolidated net profit of Crothall and Company, Christ-church-based commercial and hospital cleaning organisation, was £35,595 in the year to October 31, according to the full accounts just released. This is a rise of 68.7 per cent on the £21,105 earned the year before. The accounts are for Crothall’s first full year as a public company. Result is after £2956 more for depreciation at £14,487 and tax up from £28,057 to £33,193. Steady ordinary dividend erf 11 per cent, with the recommended final 6 per cent, takes an unchanged £11,495, while preference dividend of 6j per cent takes £975. Carry-forward Carryforward is £48,045 against £24,920 brought in from last year. Earning rate on shareholders’ fund, up from £158,587 to £181,712, is 19.5 per cent. Ordinary capital is steady at £104,500, and earning rate is 34.1 per cent against 20.2 per cent last year. Increase in profits came partly from increased sales and partly from an improved earning rate, says the chairman (Mr E. A. Crothall) in his report. Absence of the old chemical division losses had a significant effect, but this means it will not be possible to repeat the big profit rise this year, he says. Mr Crothall adds that present indications for the current year are good with sales increasing steadily and profit margins being maintained.