Wellworth cash re stocks: the shelves at Fitzwilton

THE combination of strong profit growth from its Wellworth supermarket chain in Northern Ireland, dividend income of £1 million…

THE combination of strong profit growth from its Wellworth supermarket chain in Northern Ireland, dividend income of £1 million from its 12.9 per cent shareholding in Waterford Wedgwood and an exceptional profit of £435,000 from the sale of the Novum subsidiary elevated profits at Fitzwilton last year by 79 per cent to £15 million.

Wellworth is a strong generator of cash for Fitzwilton, the supermarket chain increasing its turnover 5 per cent to £274 million sterling with profits rising 12 per cent to £12 million. Fitzwilton, which also own road signs' company Rennicks, increased group sales by £22 million to £305 million.

With earnings per share almost doubling to 4.26p a share, total dividend is modestly increased from 2.25p to 2.35p.