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Net profit of major operating companies of the Greater Union group, after providing for taxation, is shown at £.134,640 for the year ended December 31-a record amount, exceeding the 1946 result by £22,044.
Including, for the first time, the separate profit of Union Theatres Investments, Ltd., the group's total profit is £148,430. which is subject to £13,790 payable to outside shareholders, making a net £134,640.
The results were given by the chairman of Greater Union .Theatres Pty. Ltd., Mr. N. B. Rydge, to the annual meetings yesterday of the four holding com- panies. West's, Spencer's, Gtr. J. D. Williams, and Amalgamated
Year ended Dec. 31,
- 1946 1947
Gtr. Union. 60,890 80,269 Union Th. Inv. 48,124 42,449 Cinesound . 1,433 6,012 Brit. Emp. Films .... 10,735 14.003 Nat. Th. Supply . 1,938 4,136 Sixteen M'metrc .... - ? 1,561
Gtr. Union Theatres paid £91,267 in dividends-^-ordi nary £75,000 and preference £16,267. Mr. Rydge said its profit is shown for the two years with the dividends received from Union Theatres Investments eliminated.
The increased profit was earned on a larger number of theatre situations than in 1946,