COMPANIES

PREMIER TYRES, like other tyre manufacturers, did well in the year ended March 1968. Sates rose by 48 pet cent to Rs 10.12 crores and gross profit by nearly 40 per cent to Rs 97 lakhs' even though managing agents' remuneration and fees for technical services syphoned off Rs 19 lakhs (Rs 13 lakhs). Net surplus was Rs 78 lakhs (Rs 51 lakhs) of which Rs 21 lakhs will go to wipe off the balance deficit brought forward from the previous year and Rs 32 lakhs for payment of preference dividends including all arrears from 1959-60 onwards. The maiden equity distribution at 6 per cent will demand Rs 9 lakhs which is covered over 2.7 times.