The board of directors met in Coimbatore on Monday to take stock of the audited financial results of the company for the year ended March 31, 1998 and the unaudited financial results for the quarter ended June 30, 1998. The company had sought extention of time to consider the financial results pending court clearance. The board has maintained the dividend at 22.50 per cent on a higher equity of Rs 3.93 crore (Rs 3.13 crore).

The net profit posted for 1997-98 is after the merger. In fact, the net profit of LGB & Bros, without considering the working of LGB Industries, is Rs 3.68 crore (Rs 5.21 crore). The Rolon brand automotive chain manufacturer improved the turnover after a 5 per cent to 10 per cent reduction in prices affected during September 1997.