WALTONS’ PROSPECTS
Profit Lift Expected
(N.Z. Press Assn. — Copyright! SYDNEY, October 19.
Waltons expected a breakeven result in Victoria which would provide an appreciable increase in profits of the group for the current year. The chairman and managing director (Mr J. R. Walton) said at the annual meeting the trading to date in Victoria indicated this would be achieved. Earlier he told the meeting profits for the latest year would have been higher if the company had not absorbed the entire Victorian pre-opening and establishment expenses in this one year.
“These expenses were considerable and our over-all profit reduced as a result,” he said. Sales of the 12 stores launched as Waltons in Melbourne in the last year, including the new Bourke street department store, were comparable with those of similar size in Sydney. But it could be a year or so before the new stores contributed significantly to profits.
In New South Wales and Queensland the companyoperated profitably in every location.
Bank N.S.W. Interim.—Bank of New South Wales wi'.-l pay an interim dividend of 5 per cent on December 20, ex dividend November 27. —(P.A.)
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Bibliographic details
Press, Volume CIV, Issue 30886, 20 October 1965, Page 25
Word Count
186WALTONS’ PROSPECTS Press, Volume CIV, Issue 30886, 20 October 1965, Page 25
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