WOOLWORTH'S HOLDINGS
Woolworths Holdings, Ltd., a South African organisation, whose shares are quoted on the New Zealand Stock Exchange, reports a net profit of £67,180 for the year ended September 30, compared' with £60,003 in the previous year. The preference dividend of 6 per cent, absorbs £ 13,000 and the ordinary dividend of 10 per cent, (an unchanged rate), £34,500. After transferring £10,449 to general reserve, £9807 will remain to be carried forward, against £1376 brought into the accounts. Dividends from the subsidiaries are the chief source of income, and these investments are valued in the books at £321,386, exclusive of advances to subsidiaries of £315,505 and £35,949 due from subsidiaries in respect of dividends declared but not yet paid. The chief subsidiary, Woolworths (Pty.), Ltd., reports that turnover is increasing and the directors anticipate increased profits.
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Bibliographic details
Evening Post, Volume CXXVI, Issue 137, 7 December 1938, Page 16
Word Count
136WOOLWORTH'S HOLDINGS Evening Post, Volume CXXVI, Issue 137, 7 December 1938, Page 16
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