-Caveat Lector- September 25 1999 BUSINESS NEWS http://www.the-times.co.uk/news/pages/Saturday-Times/timbizbiz01013.html?999 Al Fayed gives up Harrods dividend BY FRASER NELSON RETAIL CORRESPONDENT MOHAMED AL FAYED has turned down the chance to take money out of Harrods for the first time since he took over the Knightsbridge department store in 1994. The millionaire businessman, who has extracted �74 million in dividend payments from Harrods Holdings Plc over the past four years, decided against awarding himself a dividend for the year to January 1 after writedowns forced the company into a loss. It made a pre-tax loss of �8.5 million over the year against a �53 million profit last time - although gross profits fell only slightly to �232 million (�239 million). Simon Gettings, Harrods financial controller, said the results included all parts of the Harrods empire - including Harrods Bank, Harrods Aviation and a variety of investments. "We have taken a �30.1 million hit because we are a very clean company, and have responded to new accounting regulations," he said. "They in no way suggest that the Harrods store is doing badly or losing money. " He added that the store, which generates about 40 per cent of its business through selling to tourists, was now doing much better trade owing to an influx of affluent Americans. Harrods has a 28 per cent stake in Alpha Airports, which has seen its market value halve over the past 14 months. DECLARATION & DISCLAIMER ========== CTRL is a discussion and informational exchange list. Proselyzting propagandic screeds are not allowed. Substance�not soapboxing! These are sordid matters and 'conspiracy theory', with its many half-truths, misdirections and outright frauds is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRL gives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credeence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://home.ease.lsoft.com/archives/CTRL.html http:[EMAIL PROTECTED]/ ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
