Argus (Melbourne, Vic. : 1848 - 1957), Wednesday 30 April 1941, page 2


GREATER UNION GROUP

Profit Rises to £52,754 {

Profit of the Greater Union theatre group of companies rose sharply in 1940 from £1 705 to £62 754 contrasting with losses of £11 49s and £14 330 in 1938 and 1937 respectively Latest profit which is the highest earned for 10 years is struck after providing for taxation and all over-head charges

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

Spencers Pictures Ltd 26 7 per cent Mr Rydge said that the considerably improved 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 supplies of suitable quality film. Beginning in 1941, still further supplies of quality films had been contracted for, and the company was now reasonably well protected by film contracts covering the next few years

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

1938 1939 1940

6 2 6

Greater- Union Theatres "25 064 "12 949 37 Sat British Empire Films 5 132 14 499 10 073 Cinesound Productions 10 910 93 2 £21 National Theatre Supply 22 473 716 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

year

DIVIDEND DECLARATIONS

Bank of New South Wales Interim quarterly 6 a share 18 percent (un-changed) payable May 29

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