WOOLWORTHS (W.A.) LTD.

Evening Post, Volume CXXVII, Issue 63, 16 March 1939, Page 12

WOOLWORTHS (W.A.) LTD.

The directors of Woolworths (W.A.), Ltd., report for the year ended January 31, 1939, that the profit for the year, after deducting all working expenses and making adequate provision for depreciation, is £32,480. After setting aside as provision for taxation £8000, the net profit for the year amounts to £24,480. Interim dividends have been distributed to the amount of £6345. A balance of £18,135 is available for appropriation. The directors recommend that this balance be dealt with as follows:—Declaration of a final diyidend for the year on the paid up ordinary share capital of the company of 15 per. cent, making a total of 20^ per cent, for the year, £14,233; appropriation to staff provident fund, £500; in all, £.14,733; leaving a balance to be transferred to general reserves of £3402. After making the above transfer to general reserves, the company's reserves, excluding depreciation reserve, will aggregate £58,162.' The directors report that, the affairs of the company have progressed favourably. During the year additions and alterations were made to the company's stores at Perth and Fremantle.