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French And Italian Corporations

Volume 892: debated on Friday 16 May 1975

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asked the Secretary of State for Trade if he will give the return on net assets of ELF ERAP of France and the profitability of the corporation over the past five years.

Financial information for the company can be obtained from its United Kingdom subsidiary, Elf Oil Exploration and Production (UK). In using information obtained from the ELF ERAP accounts it needs to be remembered that it is not necessarily comparable with corresponding information for a United Kingdom company because of differences between accounting conventions in the two countries.

asked the Secretary of State for Trade if he will give the return on net assets of ENI of Italy and the profitability of the corporation over the past five years.

Financial information for the company can be obtained from the ENI office in London. In using information obtained from the ENI accounts it needs to be remembered that it is not necessarily comparable with corresponding information for a United Kingdom company because of differences between accounting conventions in the two countries.

asked the Secretary of State for Trade if he can now give up-to-date figures from information sources available to him of the net assets and profits of Italian IRI, particularly the return on net assets for 1974.

I have nothing to add to the answer my right hon. Friend gave on 11th November 1974 [Vol. 881, c. 6] to the hon. Member for Bosworth (Mr. Butler). In using information from the IRI accounts it needs to be remembered that it is not necessarily comparable with corresponding information for a United Kingdom company because of differences between accounting conventions in the two countries.