SELFRIDGE PROFITS HIGHER.
Signs of better trade are noticeable in the returns of the big Stores, and the annual report of Selfridge and Co. for the year to January 31st last showed an improvement in the net trading profit of £14,085, as compared with the previous year. The Company also benefited from a corresponding rise in the profits of VVhiteleys,. which amounted to £151,925, as com- pared with £135,691. The profits of Selfridges consequently are debited with only £63,541 in respect of the Whiteley guarantee, instead of £76,487. Last year, the withdrawal of £175,000 was made from Reserves, and as there is no corre- sponding withdrawal this year the available balance is slightly lower and a dividend of 3 per cent. against 4 per cent, is recommended on the Ordinary Shares. The directors 'state, however, that a substantially larger increase in profits would have been shown but for the unsatisfactory conditions in the first half of the year. In fact, in the case of Selfridges, as in that of so many other companies, the figures are encouraging in the sense that the improvement occurred in the second half of the year. * * * *
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