Waltons profit 47.7 per cent
(N.Z. Press Association) SYDNEY. The group, net trading ! profit of Waltons. Ltd, retailer. rose 47.7 per cent to ; sAusl3.7m in the six months to .January 31, but the chairman (Mr .1. S. Walton) sees no indication of a return of consumer confidence to spend. Pre-tax profit rose 64.6 per cent to $6.2m. The improv ment in retailing in the latest period was
better than the profit growth t suggests, because the result I does not include any divi-
dend from FNCB-Waltons Corporation, Ltd. financier,! which tne group owns jointly with Citibank (formerly the First National (City Bank of New York). A steadv interim dividend of 7.5 per cent has been declared. FNCB-Waltons Corporation, Ltd, had its second consecutive siump in interim learnings, when group net profit fell 62.6 per cent to ,$256,179 tn the six months Ito January 31. The orofit was again affected by the company’s policy of not accruing interest on real estate loans, where there was doubt that the interest could be ultimately collected. Offer extended The offer made by General I Finance, Ltd, to the shareholders of JBL Minerals) iCN.Z.), Ltd. has been ! extended to April 7.
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Press, Volume CXVI, Issue 34099, 11 March 1976, Page 14
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196Waltons profit 47.7 per cent Press, Volume CXVI, Issue 34099, 11 March 1976, Page 14
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