W’worths Ltd Results Up
(N.Z. Press Assn.—Copyright) SYDNEY, August 18.
The chairman of Woolworths, Ltd (Sir Theo Kelly), said sales had shown an increase of 8.7 per cent while pre-tax profit had increased by 10.1 per cent, in the six months to July 29. The board had not previously indicated the relative percentage of sales and profit increases for the half year as it considered that the figures could be misleading, he said. It was doing so now at the request of the stock exchange. The retail industry derived a far greater proportion of its sales in the second half of the calender year and consequently the relative results for the first half were not necessarily indicative of those for the full year. While the percentage of the increased profits might be taken as an indication of the present position it did not necessarily indicate the percentage trend for the complete financial year, Sir Theo Kelly said.
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Bibliographic details
Press, Volume CX, Issue 32379, 19 August 1970, Page 19
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157W’worths Ltd Results Up Press, Volume CX, Issue 32379, 19 August 1970, Page 19
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