COMPANY NEWS

Press, Volume LXXIII, Issue 22274, 13 December 1937, Page 11

COMPANY NEWS

GORDON AND GOTCH Directors of Gordon and Gotch, Ltd., Melbourne, report for the half-year ended September 30 last, that the net profit for the half-year amounted to £71,670 4s, less provision for taxation, Federal and State, £19,416 2s 2d, leaving £52,254 Is lOd. To this sum should be added the balance carried forward from last half-year, £30,571 5s lid, making available the sum of £82,825 7s 9d. The directors recommend that this amount be apportioned as follows:—Payment of a dividend at the rate of 8 per cent, per annum on 100,000 preference shares, £4000; 12 per cent, per annum on 500,000 ordinary shares, £30,000; transfer to general reserve, £15,000; carrying forward, £33,825 7s 9d. WOOLWORTHS (VICTORIA), LIMITED The directors of Woolworths (Victoria), Ltd., Melbourne, report for the year ended September 30 that the profit for the year after deducting all working expenses and provision for -depreciation is £18,246 3s 3d. After setting aside as provision for taxation £2OOO, the net profit for the year amounts to £16,426 3s 3d. Interim dividends on the preference share capital at the rate of 7 per cent, per annum have been distributed for the year under review as follows:—On April 15, 1937, for the half-year ended March 31, 1937, £2800; on October 15, 1937, for the half-year ended September 30, 1937, £2800; leaving a balance for appropriation by the meeting of £10,826 3s 3d. The directors recommend the declaration of the following dividend for the year:—Ordinary shares, 10 per cent, on ordinary share, capital, £6OO 14s, totalling £4825 9s 3d, to which is added ths balance brought forward from the previous year of £11,786 13s 7d. The directors propose to transfer, in reduction of the establishment charges, £SOOO, leaving a balance to be brought forward of £11,612 2s lOd. During the year the stores taken over from Alfred Edments Pty., Ltd., have been reorganised and remodelled to suit the company’s requirements. The directors are pleased to report that the affairs of the company have progressed favourably.