Postby dognose » Thu Apr 29, 2021 5:08 am
Mappin & Webb, the silversmiths and jewelers, report improved trading conditions for the past year, although there still is no dividend forthcoming, either on preference or ordinary shares. For the past year there is a net profit of some $160,000, which compares very favorably with the net loss of around $195,000 in 1923. There still are heavy liabilities, and although there is a sum of about $190,000 to carry forward, the directors do not think it advisable to weaken this by the payment of a dividend. When the amount owing creditors has been further reduced, it is planned to deal with the arrears of preference share dividends and rearrange the share capital. Including loans, there was owing to creditors some $1,800,000 at the end of 1923. This has now been reduced to around $970,000; so substantial headway is being made. There are about 20 per cent. of preference dividends now in arrears, the last having been paid-in mid Summer, 1922. The preference dividend is eight per cent.
Source: The Jewelers' Circular - 29th April 1925
Trev.