WOOLWORTHS YEAR

Press, Volume CI, Issue 29760, 1 March 1962, Page 17

WOOLWORTHS YEAR

Slower Rise In Profit

Consolidated net profit of Woolworths, Ltd., Sydney based chain store proprietors rose £123.000. or 6.5 per cent., to a record £2.020 000 in the year ended January 31. The previous year profit rose 23 4 per cent. The latest result is reached after provision of £607.000 (up £23 000) for depreciation and £1,010.000 (down £28.000) for taxation. The latest figures, which are subject to audit, were released in Wellington yesterday. according to a Press Association message

Preference dividends take £126.500 and the balance of the profit represents an earn,ng rate of 15.42 per cent (compared with 15.5 per cent last year) on the average ordinary capital of £12,277.438. Steady Dividend

A final dividend of 7 per cent, of the issued ordinary capital of the company (excluding the allotment of shares made in the acquisi tion of the Chic Salon and associated companies), based on shareholding as at March 31 1962. will be payable on April 30. 1962 Togethei with the interim dividend of 5 per cent, the distribution tor the year is unchanged at 12 per cent.

Boral Profit. Sales Lower tN.Z.P A.-Reuter —Copyright >

MELBOURNE. Feb 28.

Bitumen and Oil Refineries (Australia). Ltd., reported lower profits and sales for the six months to December 31, compared with the same period of the previous year Interim ordinary dividend has been held steady at 7J per cent, and will be paid on April 6. The directors stated that the reduction in profit for the half-year was due to a lower volume of bitumen sales, which were affected by the credit restrictions.

Factors Pay Deb. Interest iNZ. Press Assn—Copvngnti MELBOURNE. Feb. 28 Factors, Ltd-, an industrial and finance associate of the Stanhill Group. announced that 3109 cheques totalling £96.323 were sent to debenture holders today These cheques met interes' payment on debenture notes totalling £2.357.700 Cheques have been sent to Australian and overseas debenture holders. New Companies Among the registrations of new companies notified in the current "Mercantile Gazette’ are the following Christchurch companies: Automatic Metalwork. Ltd Transferred from Auckland Regy., February 16. 163 Moorhouse avenue. Christchurch. Fisheries Procurement. Ltd Private company. February 9; c/o. Perry, Woodham, Davies and Murray. 187 Hereford street Christchurch Capital; £5OOO Subscribers: Christchurch—J P. Davies 50 ordinary, J. S Pallot 1450 ordinary, 3500 preferential Objects: Importers, wholesalers and retailers of fishing vessels, engines and equipment and incidental. Russley Investments. Ltd. Private company. February 14; c/o F. Rhodes and Midgley. 96 Hereford street. Christchurch Capital: £7OOO Subscribers: Christchurch—L Ashby 1800 J D Ashby 200. G F Ashbv 1000. F J Ashby 2000. G E Ashby 1000, J B Midgley 500. F Rhodes 500 Objects: Lend and advance money and Incidental. Moffat's Hygienic Towel Supply and Laundry. Ltd Private company. February 15; c/o Spiller and Smith, public accountants. 96 Hereford street. Christchurch Capital: £12.000 Subscribers: Christchurch—E L. Moffat 8000. J E. Moffat 4000. Objects: Towel service and laundry, and incidental Capital Increases Springfield Lime Company. Ltd., from £7OOO to £9OOO, February 14. Tarrant (S, D.) and Company, Ltd., from £2OOO to £4500. February 15.