MYER EMPORIUM, LTD.
The Myer Emporium, Ltd., and subsidiaries, Melbourne, show a consolidated net profit of £452,180 for the year ended July 31, an increase of £24,740. Tax provision is £78,803 higher at £.749,978, and depreciation £36,180 higher at £153,642.
Unchanged ordinary dividend of 10 per cent., including bonus 4' per cent., absorbs £172,500. The 9 per cent, preference dividend requires £48,900, and staff shares £5970, making a total of £237,460. Sales exceeded last year’s record, but the gross profit percentage had reached a dangerously low level, state the directors. Expenses, especially salaries, continued to rise sharply, and only remained within reasonable limits because of increased turnover.
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Otago Daily Times, Issue 27221, 26 October 1949, Page 9
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107MYER EMPORIUM, LTD. Otago Daily Times, Issue 27221, 26 October 1949, Page 9
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