Comment: Profits or Escalation?

This statement was made by Dr William M. Mackinlay, chairman of Federated Paints Ltd. of Glasgow at the company's annual sales conference, which was held this year at Arenal in Majorca, to celebrate their 21st Anniversary and a record sales year. He further emphasised that while they were patting themselves on the back they should remember that they were not exceptional in having had such a great success in a ‘weary year like last year’.