§ Mr. Skeetasked the Secretary of State for Industry if he will seek to obtain and publish the profits of the Italian Corporation IRI for each of the past five years and the return on net assets.
§ Mr. DeakinsI have been asked to reply.
The 1973 accounts of the Italian Corporation IRI are not available either in London or in Rome. The following figures have been extracted from the annual reports for the years 1969–1972.
PROFIT AND LOSS ACCOUNT (Billion Lire) 1969 1970 1971 1972 Net Profit … 60.7 65.6 62.9 58.5 (Billion Lire) 1969 1970 1971 1972 Net Assets … 2,799 2,980 3,282 3,503 These give a return on assets of 217 per cent., 2.20 per cent., 1.92 per cent., and 1.67 per cent., respectively.