From the August 1977 issue of the Socialist Standard
“BIG FOUR” SAY 1976 WAS A GOOD YEAR FOR PROFITS
“Another record year for profits was recorded in 1976 by Rockware Group Ltd. . . . On a turnover increased by about one-third, operating profit was up from £46,000 to £302,000.
And engineering also produced good results with operating profits rising from £72,000 to £146,000.
“An interim board forecast that 1976-77 would be the best year in the history of Jefferson Smurfit Group has now been confirmed by results.
The second half year finished with pre-tax profits of £6 million against £4.6 million for the first half. Taking the year as a whole, group profits before tax are £10.6 million, 77 per cent ahead of last year.
“Advances of 43 per cent in sales and 63 per cent in pre-tax profits compared with 1975 enabled results at TPT Ltd. last year to surpass the previous best.
“A ‘remarkable’ growth of almost 30 per cent from £8,500,000 to £10,947,000 in home sales last year has been reported by Beatson Clark & co. Ltd.
Profit before tax was £1,776,000 compared with £1,072,000 in 1975.
★ ★ ★
Mentioned in small type on the same page under “Finance in Brief”, the following: “An increase in profits from £5.5 million in 1975 to £9 million was recorded for its packaging business last year by Bowater Corporation Ltd.”
1 comment:
Obviously this was primarily a 'space filler' for this issue of the Socialist Standard but I am intrigued in this particular space filler.
My guess is that the report of super healthy profits from various companies was a bit of a corrective to the seeming doom and gloom that was supposedly befalling British capitalism in the mid-70s. However bad an economy can be, there still some sections of capitalism making bank on it.
Post a Comment