1937 Sam Browne belt markings

Hello all. I purchased a couple of Sam Browne belts recently and came across this mark on one of them. It’s clearly 1937 but what does the ‘M’ stand for? Size Medium? Also the CD or GD before the 1937? Are these makers marks for a specific factory? I’m aware many other countries used these in their military, so I wonder if this is British.

Any thoughts or opinions welcome.

Thank you

Al


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