WORTHS AUST.

Press, Volume CVI, Issue 31145, 23 August 1966, Page 21

WORTHS AUST.

Profit Up, Div. Steady Higher turn-over and profit and a steady dividend have been announced by Woolworths, Australian chain store, for the half-year to July 27. Interim dividend is again 5 per cent ordinary and it will be paid on October 31, ex dividend September 12. Total dividend last year was 12 per cent. Sales for the six months showed a satisfactory increase over the corresponding period of the year before. This was mainly because of “pleasing results” from stores opened during the 12 months before, says the chairman, Sir Theo Kelly. “Rising costs, particularly in view of the new basic wage, continue to present a problem to the retail trade,” he says. Sales in Woolworths supermarket division 1 in the latest half-year were up to expectations. But in common with other retailers Woolworths found sales of general merchandise were difficult. The company has opened 24 new stores since the beginning of its financial year and expects to open 19 more during the next six months. Associated Motels.—The balance date of Associated Motels of New Zealand, Auckland, has been changed to October 31. It is expected that the annual meeting will be held in either January or Februrary of each year. Suckling dividend.—Steady 4 per cent dividend of Suckling Brothers, Christchurch footwear maker, will be paid on August 24 and shares are ex dividend the same day.—(P.A.)