Baltimore Gas and Electric Co. has reported 1976 profits of $107 million compared with $93 million the previous year as revenues rose to $726 million from $680 million.
After deducting dividends for preferred and preference stock, the BG&E profits were equal to $3.12 a share of common stock compared with $2.75 in 1975.
The Baltimore-based electric and natural gas utility said kilowatt-hour sales of electicity increased 6.5 per cent during the year, "reflecting the improvement in economic conditions and the resumption of a more normal growth pattern . . . " Residential sales rose 5 per cent, commercial sales were up 3 per cent, and industrial use increased 9 per cent.
Because of colder weather in the last months of the year, 1976 gas sales were up 3.5 per cent, BG&E said.
Government Employees Financial Corp. yestrerday reported record profits, revenues and credit volume in 1976. Earnings totaled $3.7 million ($2.11 a share), an increase of nearly 40 per cent over the previous high of $2.65 million ($1.57) in 1975.
President Ernest L. Marks said revenues rose 11 per cent to $34 million while the company's volume of loans rose 10 per cent to $201 million. He said the record results reflected the increased revenues, lower corporate borrowing costs and controls over expenses.
Solon Automated Services, a supplier of laundry equipment services, reported profits in the year ended Sept. 30 rose 43 per cent to $3.4 million ($1.15 a share) compared with $2.4 million (84 cents) the previous year. Revenues rose 30 pr cent to $42.6 million. Because of a continuing Securities and Exchange Commission investigation into commissions paid by Solon, in connection with laundry machine locattions, the firm's outside auditors qualified their opinio on the figures.
Bowl America, Inc. and Fair Lanes, Inc. two operators of bowling centers, reported higher profits for the six months ended with December. Bowl America reported profits of $350,000 (37 cents a share) compared with operating results in the previous comparable period of $344,195 (36 cents), as revenues rose to $5.3 million from $4.8 million. Fair Lanes earned $1.3 million (44 cents) vs. $1.06 million (35 cents) with revenues up to $19.5 million from $17.8 million.
In the three months ended Dec. 26, Bowl America posted record profits of $373,499 (40 cents) vs. $313,320 (33 cents). The firm opened a 32-lane center in Rockville on Jan. 26, bringing the total lanes to 830 compared with 760 at the end of the last fiscal year. A new facility is under construction in Jacksonville, Fla.