So started the feature ‘A Week In The City’ in Electronics Weekly’s edition of January 25th 1961.
The article continued:
Dealings began last Monday around 14s. 9d., but by the close of business on Friday, the price had slipped back to 14s. 1d.
I.C.T. extended their advance and Philips Lamps recovered, but Westinghouse Brake weakened on the financial results for 1959-60, which showed a decline in profits and a maintained dividend of 11 percent. Simms Motor and Electronic, one of the most consistently good performers in recent months, have moved ahead to a new peak. The shares are now on a dividend yield basis of about 3.3 per cent — a reflection of investors’ confidence in the company’s prospects.
Royston Industries, W. H. Sanders and Muirhead, the top three in our recent share price “league table,” have all had good rises over the past week, and Ether Langham Thompson went ahead briskly on take-over rumours. The board has said it has no knowledge of any bid for the company’s shares.
Ultra. Electric have also gained ground, though the directors have given a warning that the outcome of trading in the year ending on March 31 will not be as favour-able ás in 1959-60, though the setback appears to have been confined to the radio and television side. The electronics division has maintained its activity.
The interim dividend is being held at 7 percent, but there is a warning that the amount of the final payment will have to await the full year’s results. Last time, Ultra paid a total of 25 per cent, covered 2.8 times by net earnings. A decline in profits would thus not necessarily prevent the board from holding the full rate
