COMPANY AFFAIRS
WOOLWORTH'S LOWER PROFITS Woolworths, Limited (Sydney), earned a net l>rolil of 2148,303 lor the year ended January 31, or £105,481 less tnan for the previous year. This is shown alter allowing £20,002 tor depreciation and deducting *03,26y lor taxes paid during tne year, aua.net £28,108 and £56,185 respectively in 1941-42. Dividends on 10 per cent, and 7 per cent, prelerencc shares absorb £2I,SCO. and ordinary dividend reduced Irom 12) per cent, to 11 per cent. • interim 5 per cent., final 6 per cent.), requires £122,540. The sum ot £283,514 .-arried torward, compared with £279,261 brought into the accounts, is subject to taxation liability not assessed at the balance date.
Aggregate profit ot subsidiary conipanles, after providing tor depreciation, is shown nt £653,771, against £340,867 for the previous veac. Provision for taxation Is £201.611, while tax payments totalled £187,08(1. Combined assets are set down at £3,635,671, a decline ot £89,062.
Net profit ot Wcolworths (W.A.:, Ltd., was £9960 tor (he year ended January 31, taxes paid having amounted to £41,562. hor the previous year net proll. was £34,488, alter allowing for tax payments ol £15,456. Dividends require £11.089. or £1129 more than the net profit, and £58.082 is carried forward, against £.V1,21) brought torward. Preference dividend absorbs £l6OO and ordinary distribution, 10 per cent., unchanged, requires £9469. NATIONAL ELECTRIC YEAR The accounts of the National Electrical and Engineering Company tor the year ended October 31 show a profit of £34.129, betorc taxation is provided, compared with £69.225 in 1941 and £67,398 in 1949. Alter paying a dividend of 6 per cent., unchanged, taking £7096. and providing £42.000 tor tuxes, there remained £5033 to bring the balance carried forward to £30.997.
AUSTRALIAN ALLOY STEEL Austra.lan Alloy Steel. Limited, will henceforth lie known as Hadfields Steel Works, Limiteu. in accordance with the decision ot shareholders at the last annual meeting.
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Bibliographic details
Wanganui Chronicle, Volume 87, Issue 63, 17 March 1943, Page 1
Word Count
309COMPANY AFFAIRS Wanganui Chronicle, Volume 87, Issue 63, 17 March 1943, Page 1
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