HC Deb 01 August 1984 vol 65 cc299-300W
Mr. Shore

asked the Secretary of State for Trade and Industry what arrangements he has made when privatising publicly-owned shares in British Aerospace to ensure that it remains in majority British control.

Mr. Tebbit

The arrangements are set out in the articles of association.

Mr. Shore

asked the Secretary of State for Trade and Industry what was the profit of British Aerospace in the year immediately preceding privatisation.

Mr. Tebbit

In the year ended 31 December 1980, the British Aerospace Corporation made a profit (before taxation and extraordinary items) of £52.8 million.

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