Financial Notes
(Continued from page 64.)
WOOLWORTH PROFITS.
During the past week a feature has been the announce- ment by F. W. Woolworth and Co. of profits of an almost sensational character, the net profit for the past year being £4,525,384, after providing for depreciation and all expenses, except taxation. The profit in the previous year was £4,478,000, of which, however, £947,000 was required for taxation. The allocations to Freehold Buildings Reserve and to the Staff Benevolent Reserve, namely, £50,000 and £10,000 respectively, are the same as a year ago, but the final dividend, making 80 per cent. for the year, has been increased, for the dividend for the whole of the previous year was 70 per cent. These are remarkable results, and they explain the sensational rise which has taken place in the ordinary shares. The shares are in denominations of 5s., while they have always commanded a heavy premium. 'They were quoted at one time last year at 69s. 6d., but they now stand at 95s. a share.
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