WOOLWORTHS PROFITS

Evening Post, Volume CXV, Issue 73, 28 March 1933, Page 10

WOOLWORTHS PROFITS

AUSTRALIAN BUSINESS

Woolworths, Ltd., Sydney, a general store organisation, reports a profit of £108,788 for- the year ended January 31, . 1933, compared with £97,407 the previous f year. Provision of £40,000 is made for

taxation. Of the balance, £68,788, preference dividend of 10 per cent, absorbs £7500, three interim dividends of 3% per cent, on ordinary shares = account for ■£18,876, and it is now proposed to pay a final dividend of 6% per cent., making 17% per cent, for the year, and a bonus of 5 per cent. The remaining sum, £23,535, is to be transferred to the general reserve. Total reserves (exclusive of taxation provision and depreciation) ■will then be £129,493. ■ A dividend on ordinary shares of 17%. per cent, as last year is recommended. ' * The directors report that all branches are operating successfully. . Satisfactory .dividends have been received from the company's two subsidiaries, Woolworths (W.A.), Ltd., and Woolworths (N.Z.), Ltd.' To provide for present and contemplated expansion, the directors ask the shareholders to approve of the creation of 200,000 7 per cent, second cumulative preference shares, out of the unissued ordinary capital of the company r ( £732,212). Itkj's not proposed to issue the shares at present, but to have them 'available when required. • .

WOOL MARKET

SOME WITHDRAWALS

BRADFORD "VERY FIRM"

(Received March 28, 10.30 a.m.) , , LONDON, March 27,

Offerings at the wool sales today were 9245 bales] including 3198 bales from New Zealand. About 4700 bales were sold. Fair competition at late rates., prevailed, but there were signs that buyers have 'covered the bulk of their requirements. Some withdrawals, especially of New Zealand crossbreds, were made owing to the high limits placed on the wool. New Zealand merinos, greasy, "Bankhouse," sold at lid highest, W&d average, and greasy halfbred 9%d highest, 8 5-8d average.

The Bradford tops market is very firm, with a fair amount of business passing.

"Wool firm at opening rates; good competition," is the advice received by the 'Bank of New South Wales from its London office, March 24.