asked the Minister for Supplies if he is aware that a leather manufacturing company, which made a substantial net profit in 1942, increased its net profits for 1943 by over 100 per cent.; if his Department has examined the accounts of this firm, and if he intends to take any action in the matter having regard to the fact that so many parents are unable to buy footwear for their children.
Ceisteanna—Questions. Oral Answers. - Leather Manufacturing Company's Profits.
The accounts of the company indicated in the question have been examined in my Department in connection with that company's arrangement for the control of prices and profits. I cannot without running the risk of divulging confidential information discuss the financial affairs of the company and I can only say that the net profit of any undertaking after providing for all taxation does not provide a correct basis for a comparison of the prices and profits in one year with another. The prices and profits of this company are under control and I have no reason to believe that their prices are excessive. The last part of the question does not therefore arise.
Is it not a fact that this company published their profits in the Press and that they made 100 per cent. increase over 1942? Is the Minister aware of that?
No.
That is the fact.
That is not the fact.
I must be reading it upside down.
The Deputy, if he studies the reply I gave, will understand that there are considerations which he is leaving out of account.