RECORD FOR WALTONS

Press, Issue 30997, 1 March 1966, Page 23

RECORD FOR WALTONS

21.1 p.c. Lift In Half-Year

(N.X. Press Association) WELLINGTON, Feb. 28. Consolidated audited profit of Faltons, Ltd.. Sydney-based retail store chain owner, for the half-year ended January 31, 1966, after taxation was a record 1,735,072 dollars (£876,536). This was an increase of 21.1 per cent on the 1,433,084 dollars (£716,542) earned in the first half of the last financial year. Collections on customers’ instalments accounts showed an increase of 11.2 per cent over the corresponding period. An amount in excess of 56m dollars equal to 74 per cent Of the amount outstanding at the beginning of the year, will be collected from instalment credit customers in this financial year, says the report.

Conservative estimates indicate that the company will have no difficulty in financing the anticipated increases in volume of business.

Interim half-yearly dividends have been declared at the rate of 124 per cent on the ordinary capital and 10 per cent on the first preference capital, payable April 13. Interest on the 7 per cent convertible notes for the halfyear will also be payable on April 13.

Business Personal

Mr H. Cordery and Mr H. N. Davis have been appointed assistant general managers of New Zealand Refrigerating Company. Mr Cordery was assistant manager and Mr Davis livestock manager. The new designation replaces their former positions.