WOOLWORTHS’ TURNOVER

Press, Volume XCVII, Issue 28552, 3 April 1958, Page 17

WOOLWORTHS’ TURNOVER

Increase For Year

Despite a general falling off of trade in Sydney. Woolworths, Ltd., showed a substantia] increase in turnover fur the year on January 31. the directors state in the annual report. All subsidiaries are operating successfully, they state. The recession in trade in the city has been caused by the development of the suburbs and the effect of increased transport fares The benefit from Woolworths additional turnover was considerably offset by the continuing increase in council and water rates, and the incidence of State land-tax Land-tax amounted to £107.000. compared with £26.000 in the previous, year

During the year ten new stores were opened in Australia and one in New Zealand, making 232 stores in operation

Wherever practicable, food will be added as part of the company’s standard merchandise. This development involves considerable capital expenditure, from which a normal profit return will not be derived until it, is in full operation, directors state Profit details were published last month The consolidated figure is £1.247.932 (up £102.608) after tax. £724.493. Burns Philn.—The directors of Burns. Philp have announced their intention to make a bonus issue of one for four at April 30.—(PA.) Airline Agents.—Ansett-A.N.A (the recerrtlv-estahlished combine mining the airline interests of Anse f t Airwavs and Australian National Airwavs) has appointed Tasman Em-ni’-e Airways. Ltd., as genera] sales agents for New Zealand. Fiji, and other Pacific territories. Japanese Airlines have ?l"o T.E.A.L 'as general sales agents.