GOOD STORES RESULTS
Further results have now been announced by leading depart- ment store companies showing surprisingly favourable earnings in spite of difficult trading conditions. John Barker and Co., of Kensington High Street, are among those who have increased their earnings for the year ended January 31st. Net profit rose by £3,123 to £347,941. Although this increase is less than per cent., it runs counter to the general trend of West End retail profits. The company is paying a final dividend of to per cent., making 15 per cent. for the seventh successive year, and is carrying forward L190,739, against £189,561.
John Barker still maintain their policy of writing back very substantial sums out of profits. On this occasion the alloca- tions—Li oo,000 to rebuilding reserve, Lto,000 to pensions, and £25,000 written off fixtures, are the same as the previous year's. The transfer to rebuilding reserve is once again immediately applied to writing down the book value of the properties No less than k1,300,000 has been so applied in the past ten years, and one would be tempted to think that sooner or later it must be possible to return to more generous dividends.
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