1957

On the 1st Day of March 1957 the 24th Annual General Meeting was held and a copy of the minutes is given in {_100_} . The chairman ( Dr . Simon) made particular reference to the fact that for the first time the AGM was being held in the newly built offices of the company. With reference to the company's accounts the chairman stated that the profits were substantially the same as for the previous financial year. There had been a considerable increase in turnover but this had been offset by increased costs of shift production and overhead expenses. As can be seen in the balance sheet of September 1956 {_95_} the cost of the new buildings and machinery had been financed from the company's liquid position and therefore expenditure in the new financial year would be one of consolidation. The chairman informed the meeting that the negotiations with Lotus Ltd concerning Vik Supplies Ltd had reached completion. The staff and executives from Vik Supplies were now housed in the new offices. Given here is a copy of a letter sent to all directors concerning the appointments of E.H. Beaumont and R. Yudolph as Sale Directors.

In 1957 the company reached its 25th anniversary and a presentation was made to Dr. H. Simon by the staff and employees to mark the occasion. A copy of the photograph taken on the occasion is given here.