COMPANY NEWS

Evening Star, Issue 23525, 14 March 1940, Page 9

COMPANY NEWS

WOOLWORTHS (ENGLAND) . PROFIT AT NEW PEAK With a profit for last year of £7,612,601, F. W. Woolworth and Co(England) has fulfilled, general market expectations and eclipsed (by £651,460) the previous record figure or £6,961,141 for 1938. The balance is struck after charging all expenses but before providing for taxation. A final dividend of Is 9d a. unit (85 per cent.), less tax at 7s, is recommended on the 30,000,000 5s ordinary stock units, with a cash bonus of 9d (15s per cent.). These payments are the same .as a year ago. With the interim dividend of 9d they again represent a total rate for the year of 65 per cent., less tax. In this respect the market’s best hopes were realised on the announcement, andi the 5s units rose Is to' 635, against a post-war “low ” of 49s 4jd. There had been »' body of opinion that had feared a reduction in the total distribution to 60 per cent. According to the preliminary statement issued by the company, says the ‘ Financial Times,’ the total available for 1939, after adding to the profit the balance of £5,468,445 brought forward, was £13,681,047. Provision for taxation to date is put at £2,950,725, which is £918,980 more than in 1938, andl exceeds by £267,520 the increase in last year’s profit. For the interim dividend £815.625 was required, and for the final £1,706.250, plus £731,250 for the bonus. As transfer to freehold buildings reserve £101,079 (against £lOO,000) is allocated, and £IIO,OOO (same) is set aside for staff benevolent fund. Carry forward is increased by £1,002,671 to £6,471,117. STEADY PROFIT HUODART. PARKER LTD. Profit of Huddart, Parker Ltd. for the year ended December 31 last totalled £135,691. This compares with £134,518 in the previous year, and £114,596 in 1937. Dividends of 6 per cent, on the preference capital, and 14 per cent, on the ordinary capital, require in all £135,000. A sum of £58,030 is carried forward, against £57,339 brought into the accounts. A consolidated balance sheet and profit andl loss account of the company and its subsidiaries is furnished for the first time. The reserve for contingencies has been strengthened by the transfer of amounts for anticipated. liabilities, which did not eventuate. Consolidated profit and loss account shows a profit of £189,064, which is struck after providing £54,014 for taxation. Profit from trading, after charging £103,869 depreciation on fixed assets, and transferring £33,000 to reserve for contingencies, was £125,158. Income from general investments was £126,102. The directors report that for the first eight months of the year trading was satisfactory. The year adversely affected the last four months; The new cargo steamer, Barwon, arrived in Australia in November, and was a useful addition to the tonnage employed on the coast. BUILDING SOCIETY'S DIVIDEND The United Building Society of Christchurch has declared a final dividend for the year ended March 31, 1940, of per cent. The dividend will be payable on April 1. The transfer books will be closed, from March 21 to 31, both days inclusive.

BURNSIDE STOCK SALES

LATE MIES FOE SHEEP OFFERED Store cattle had a small yarding of 220 head, with only a few pens of good steers offered at the Burnside Stock sale yesterday. The balance of the yarding was made up of younger steers and heifers, with an odd pen. of good, fresh cows. Best steers realised up to £ll. In the fat sheep pens 2,641 head were penned. Included in the yarding were a few consignments of ■ prime heavy ewes, but wethers of the same descrip, tion were in short supply. The sale opened With prices Is to Is 6d above last week’s rates for heavy-weight wethers, while ewes of the same class sold on a par with rates ruling last week. Light-weights were kept well up to schedule by exporters. Extra prime heavy wethers made to 365, prime 30s to 325,' medium 26s to 28s, light 23s to 255; extra prime heavy young ewes to 28s 3d, prime 20s to 245, medium 16? to 18s, light to 15s. There were 1,125 fat lambs yarded, the quality on the whole being not as good as usual. Few quality lambs were offered. The sale was a good one, exporters keeping prices up to last week’s rates. Prime heavy lambs brought to 32s prime 27s to 28s, medium 24s to 265, light to 225,

DIVIDENDS AND CALI"

CALL.

A.C.l.—New, 5s a share Mar. 31 ♦Quoted ex dividend on Stock Exchange.

The following is a list of shares on which dividends will shortly be payable: •Electrolytic Zinc — Ord, and Mar. 15 pref., interim, 12 p.c. p.a. ... •Broken Hill South—6d per share Mar. 15 W. R. Carpenter—Interim half. Mar. 15 year, 5 p.c ... •National Mortgage—Final, 5 p.c., £2 per share (A), £1 per share Mar. 15 (Bj , Huddart, Parker—Pref., 3 p.c.; Mar. 16 ord., 7 p.c Milburn Lime—Interim, 7j p.c., Mar. 18 9d per share ... — ... North Broken Hill—6d per share Mar, 29 Bank of N.S.W.—Interim, 6 p.c., Mar. 29 6s per share Bank of Australasia—Final, 8 p.c., Mar. 29 4s 6d per share Cox Bros.—15 p.c., 4jd per share Mar. 30 Dunlop Rubber—Interim, 7 p.c., 8 2&1 per share Mar. 30 British Tobacco—Interim, 8 p.c., Mar, 30 4 4*5d per share ... ... ... Woolwortbs Ltd. (N.Z.)—Final, 17i p.c., 6 9*10d per share — Hume Pipe (Australia) Ltd. —InMar. 30 terim, pref., 3J p.c.,; ord., 3 p.c. Woolworths (N.Z.) Ltd.-Half-Apr. 4 yearly. 4£ p.c.