HARRODS.
It was to be expected that the big Stores would feel the effects of the trade depression and temporary contraction in purchasing power, and in view of those conditions the Report of Harrods, recently published, was quite up to market expectations. It is true that the net profit of £752,000 showed a reduction of about £80,000 compared with the pre. ceding year, but there was very little decline from the year 1928-29. Moreover, thanks to a conservative policy in the past and to economies, the Directors were able to repeat the 20 per cent, dividend and at the same time to maintain Depreciation allowance. The allocation to the Reserve of £25,000 is £25,000 less than a year ago, while the carry forward of £126,643 is also somewhat smaller than last year.
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