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GREATER UNION GROUP

Profit Rises »o £52,754 {

Profit of the Oreater Union theatre group of companies rose sharply in 1940 from £1 705 to £fi2 754 contrasting with losses of £11 49s and £14 330 in 1938 and 1937 respectivelj Latest profit which Is the highest earned for 10 j ears is struck after providing for taxation and all over- head charges

This result was announced at the an- nual meeting of Amalgamated Pictures Ltd yesterday by Mr Norman B Rydge a director of Amalgamated Pictures and chairman of Oreater Union Theatres Pty Ltd Amalgamated Pictures which owns the Majestic Theatre Flinders st holds a 14 6 per cent interest in the Oreater Union group of companies the balance .being owned by Greater J D Williams I Amusement Co Ltd 32 5 per cent In- terest Wests Ltd 26 2 per cent and

Spencers Pictures Ltd 26 7 per cent Mr Rjdge said that the considerably im- proved position of the Greater Union group was the result of adequate supplies of quality film being available to Greater Union Theatres That demonstrated the profit-earning capacity of the organisa- tion provided that it was assured of sup- plies of suitable quality film. Beginning in 1941, still further supplies of quality films had been contracted for, and the company was now reasonably well pro- tected by film contracts covering tile next few j ears

Profits of the four main operating com- panies of the Greater Union group in the last three years compare as under -

103* 1939 1940

£ £ £

Great«- Onion Theatre» "25 064 "12 949 37 S«l BrlUsh Empire Filma 5 132 14 499 10 073 Cinesound Productions 10 910 93< 2 «21 National Tlieotr» Supply »2 473 «710 2 297

.Low.

Mr Rydge added that trading of the Greater Union group of companies since January 1 had been satisfactory Profits earned to date were higher than those earned for the corresponding part of last

>eor

DIVIDEND DECLARATIONS

Bank of New South Wales-Interim quarterly 6/ a share 1$ per cent (un- changed) payable May 29

Wattle Gully Gold Mines N L -54th of 6d a share pa j able May 26 Books close May 21 (Previous 6d, April 28, total declarations £ 225 000 )

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