SELFRIDGE’S YEAR
A fall of £4585 to £48,844 in the net profit of Selfridges (A’asia.), Ltd., Sydney, is shown in the accounts for the year ended July 31. The result is reached after providing £33,000 for taxation, against £40,000 in the previous year, when earnings were a record. Dividend is maintained at 10 per cent, (final 6 per cent.), requiring £28,500, and £82,072 is carried forward, against £61,928 brought in. The trading profit declined by £11,970 to £76,609, The directors state that, although turnover was a record, the lower permitted rate of gross profit, the increase in expenses and effects of the coal strike resulted in the lower net profit. Dividends received during the year from the subsidiary companies in New Zealand and Western Australia rose from £4649 to £5035. Selfridges (NZ), Ltdearned a net profit of £4281 for the year ended January 31, against £5351 in the previous year, and paid an unchanged dividend of 2J per cent., requiring £3964. The net profit of Selfridges (WA), Ltdfor the year ended January 31. increased by £lll2 to £7457. A steady dividend of 6 per cent, was paid, absorbing £5929.
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Bibliographic details
Otago Daily Times, Issue 27212, 15 October 1949, Page 3
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189SELFRIDGE’S YEAR Otago Daily Times, Issue 27212, 15 October 1949, Page 3
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