From the FINANCIAL TIMES of May 21
The 50 largest U.K. companies based on size of market value of quoted equity capital at March 31 1968, are shown in the accompanying table. This has been compiled from a list supplied by the London Stock Exchange.
Of the "Top Ten", Shell Transport and British Petroleum have reversed their positions at the head of the table, while ICI and British-American Tobacco remain unchanged in third and fourth positions. Unilever and Rio Tinto-Zinc have moved into fifth and sixth places respectively - Burmah Oils, Marks and Spencer and GUS have fallen back to seventh, eighth and ninth places while General Electric (having taken over AEI has moved into tenth position from 23rd of last year,
The market value of the 10 leaders has increased from £5,113m. to £7,960m., accounting for 50 per cent. of the total value for the 50 companies of £15,976m. against £10,50m, of last year,
This year there are 65 companies with a valuation greater than £100m, apiece, as against only 39 companies in 1967, This reflects to a large extent the big rise in share prices.....
The figures in parenthesis indicate each company's position in the corresponding list for 1967.
(Editorial comment: these figures, which require careful analysis, indicate two things: firstly, that despite any fall in dividends, big business is doing extremely well under Wilson; and secondly, that the growing monopolisation of British industry is concentrating capital at a fantastic rate. There are many lessons for the labour movement in all this.)
1 (2) Shell Transport 1,833
2 (1) British Petroleum 1,378
3 (3) Imperial Chemical Industries 1,235
4 (4) British-American Tobacco 661
5 (11) Unilever 567
6 (19) Rio Tinto-Zinc 501
7 (6) Burmah Oil 497
8 (5) Marks and Spencer 447
9 (7) Great Universal Stores 422
10 (23) General Electric 419
11 (10) Imperial Tobacco 411
12 (8) Distillers 372
13 (9) F.W. Woolworth 326
14 (14) Courtaulds 316
15 (13) Prudential Assurance 303
16 (12) Royal Insurance 303
17 (15) Barclays Bank 279
18 (16) Guest Keen and Nettlefold 270
19 (35) Charter Consolidated 265
20 (22) Beecham 251
21 (17) Midland Bank 231
22 (--) Bass Charrington 215
23 (31) General Accident Fire and Life 205
24 (21) Lloyds Bank 196
25 (55) Consolidated Gold Fields 193
26 (27) English Electric 191
27 (59) Glaxo 191
28 (39) Plessey 188
29 (18) Boots Pure Drug 184
30 (32) Leyland Motors 182
31 (25) Commercial Union Assurance 174
32 (20) Associated Portland Cement 169
33 (24) British Motor Holdings 164
34 (26) Allied Breweries 16[illegible]
35 (42) Coats Patons and Baldwins 163
36 (28) National Provincial Bank 160
37 (45) Rank Organisation 159
38 (49) Thorn Electrical Industries 158
39 (41) Dunlop 157
40 (47) Associated British Foods 150
41 (38) Westminster Bank 148
42 (63) BICC 147
43 (70) English China Clays 144
44 (50) Radio Rentals 142
45 (77) Selection Trust 136
46 (6) Metal Box 135
47 (29) International Publishing 120
48 (54) Reckitt and Colman 120
49 (34) Reed Paper 119
50 (68) Electric and Musical Industries 115