WOOLWORTHS.
The profits of F. W. Woolworth and • Company have con- founded Stock Exchange expectations by rising to a new high record just short of £6,50o,000. At £6,490,014 they compare with £5,832,442 a year ago. It had been supposed, quite wrongly, that the margin of profit would be ground down between the millstones of higher wholesale prices and the " Nothing over 6d. " retail price limit. But the company has continued its policy of expansion without any break and now controls 677 retail shops, about 33 more than a year ago. The final dividend and cash bonus are unchanged at 45 per cent. in all, making a total distribution for the year of 6o per cent., and the balance carried forward is nearly £1,000,000 higher at £43500,925 against £3,507,978. The figure is high enough to
warrant the hope of another scrip bonus at some future date. * * * *
Previous page
