Shares were offered to the public to add to the 94,500 already in circulation and another 100,000 authorised but not issued. The interest rate had, by this time, been raised to 7 ½ %. 100,000 Ordinary Shares at £1 each already authorised of which 50,000 were issued to and held by directors and paid up, the remainder unissued. The directors (all Budgetts) were William Edward, James Herbert and Charles Theodore Budgett Annual profits to March were stated from 1912 to 1919. They showed a fairly steady rise from £15,000 in 1912 to £34,000 in 1919 The area of distribution was: The Midlands, South Wales and South-West England, with depots at Bristol (Head Office, one whole side of Bridewell Street), Birmingham (Carr's Lane and Great Colmore Street), Cardiff (New Street, next to the railway) and Swansea (York Street, built in 1916). Sales also showed a steady rise, with 1919 being a record. Brands included “Crescent Brand” and “Red Ring” flour. The offer was subscribed twice over. At the 1920 AGM, the chairman (W.E.Budgett) said they had been acquiring other companies that fitted well and they now covered the country from Newcastle-upon-Tyne to Lands End. Turnover had multiplied many times but much of the benefit had been taken by the Government in Excess Profits Tax. He was hopeful that this would end fairly soon. This year they had acquired Twigge and Butters of Liverpool. The acquired companies were being run by their previous directors and there was a good corporate spirit. In December 1932, the company offered 100,000 of 200,000 6% Preference Shares at £1 each in United Counties Stores. This was a company recently set up by Budgetts to run old-established retail groceries (currently 57 of them) located in the Midlands, Wales and South-West England. Budgetts held the 200,000 Ordinary Shares at £1 each. This arrangement continued for many years. In World War II, Bristol was much bombed, especially near the docks. On 24 November 1940, part of Budgetts' premises were bombed. The staff worked hard to get the business working but then more bombs fell in early December leaving little of the buildings. The business was essential however so the work was moved to other premises. General goods, tea, chocolate, and flour each went to a different place. Groceries were retained at Nelson St. In 1948 delivery depots were set up at Exeter, Cheltenham and East Coker. In the mid-50s,