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1LS3YLAND
MOTORS '
PROFIT
Leyland Motors of Britain,
for the year ended Septem
ber 30 showed a marked ex
pansion. Group trading profit
incrcasca Dy £463,446 to :
£1,982,422, compared with the
previous year.- x „
Mr C. Basil Nixon, the chair
man, in his statement submit
ted with the report, points out
that the gross turnover increas
ed by 23 per cent, over 1948
and by 176 per cent, over 1938,
according to the Financial
Times.
With exports valued at
£5,867,072, the company, says
Mi- Nixon, has made the largest
contribution of any heavy com
mercial manufacturer to the>re-
markable export-record of -the
motor industry as a whole.
He adds, however, that sub
stantial inroads have been made
into the large backlog of orders
with which the year opened.
Output And Workers
Tire chairman said that in
spite of large sums spent 'on
modern equipment, and the
fact that the capital employed
in the company per weekly
worker had increased from
£502 to £988, the number of
vehicles produced had only in
creased by 25 per cent, as com
pared with 1938, and the turn
over per £100 wages by only
2 per cent.
Tlie number. of employes had
increased by 34 per cent, and
the wage bill by 169 per cent.
Wages and salaries (gross)
absorbed 4/10, of 24.10 per cent.,
while the ordinary dividend
(gross) took only. 4 'id. or 1.75
per cent.
Referring to the recent de
mand for an all-round increase
of £1- on the basic wage rate,
Mr Nixon says had it been' con
ceded, it would have cost the
company about £800,000 a year,
which is almost three times the
increased gross distribution on
the ordinary stock, and 5'i-
times the sum actually received
by ordinary stockholders.
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