Leyland Motors’ preliminary statement, issued yesterday, revealed an increase in group profits of more than £800,000, while the directors are raising the first and final payment on the Ordinary shares from 12-5 per cent. to 15 per cent.
Profits for the year ended September 30 advanced to £6,277,135 from £5,937,646. After allowing for depreciation of £1,261,587 (£1,228,550), profits tax of £490,600 (Â£542,276), and income tax of £2,156,137 (£2,237,982), &c., net profits worked out at £2,685,630, compared with £2,045,745. Credit is taken for tax provisions no longer required of 223,002 (nil).