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COMPANY AFFAIRS

NATIONAL BUILDING

Net profit of the National Permanent Building Society for the year ended September 30 was £lO7B against £1045 the previous year. Unclaimed dividends at 4 p.c. on both classes of shares take £950 and £2OO is transferred to stabilisation reserve. Carry forward is £55, against £127 brought in. WOOLWORTHS (N.Z.) Net profit ot Woolworths (N.Z.) Ltd. for the year ended October 2 was £134.034, against £142,303 the previous year. Unchanged dividends of 9 p.c. preference and 15 p.c. ordinary take £133.120 and carry forward is £125,045, against £124,131 brought The reserves ot the company, including the carry-forward, now amount to £378,327 (£377,412 last year) and in addition there arc depreciation reserves ot £327,723 (£318,178 last year). The directors state that sales for the year showed a satisfactory increase, but profit decreased by £8271, which was accounted for by the continuous rise in wages and expense The merger of Macduffs Ltd. with Woolworths (N.Z.) Ltd. and Woolworths Ltd. (Sydney) was completed on May 26. Since that date the 637,174 shares of 5/- each acquired by Woolworths Ltd. in Macduffs Ltd. have been sold to Woolworths (N.Z.» Ltd., the consideration being the allotment to Woolworths Ltd. ot 318.587 ordinary 5/- shares in the capital of Woolworths (N.Z. Ltd.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/WC19501121.2.6

Bibliographic details

Wanganui Chronicle, 21 November 1950, Page 2

Word Count
210

COMPANY AFFAIRS Wanganui Chronicle, 21 November 1950, Page 2

COMPANY AFFAIRS Wanganui Chronicle, 21 November 1950, Page 2