Below is the Aberdeen Combworks Company Limited Report and Balance sheet for 1963/ 64, and also includes a Statement by the Chairman of Directors. Reading the statement, the company experienced disappointing sales and reduced profits during the thirteen-month period ending January 31, 1964. Despite this downturn, the company’s strong liquid position enabled it to recommend a dividend of 6½%.

Following the appointment of new directors in November 1963 and the implementation of a more aggressive policy, themanaged to turnaround sales and profitability, with the first quarter of 1964 showing substantial improvement over the previous year. Additionally, the company had initiated new projects and established a wholly owned subsidiary, Deeware Limited, to handle sales of items other than combs, indicating a proactive approach to expansion and diversification.

Directors

JOHN SCOTT, 3 Ossian Road, Newlands, Glasgow, S.W., Chairman
N. V. L. BARCLAY, B.A., C.A., Rockfort, Helensburgh, Dunbartonshire, Managing Director
HUGH SMITH, 78 Kingsbridge Drive, Glasgow, S.4.
CHARLES BURNS CRUICKSHANK, 18 Cromarty Avenue, Glasgow, S.3.

Bankers

NATIONAL COMMERCIAL BANK OF SCOTLAND LIMITED (ST. NICHOLAS BRANCH), ABERDEEN and BANK OF SCOTLAND, LONDON

 

Solicitors

PAULL & WILLIAMSONS, 6 Union Row, Aberdeen; and MURRAY, HUTCHINS, & CO, 11 Birchin Lane, London, E. C. 3

 

Auditors

WILLIAMSON & DUNN, C.A., 3 West Craibstone Street, Aberdeen.

Secretary

JAMES ANNAND

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