PROGRESS MADE.

Auckland Star, Volume LXIX, Issue 97, 27 April 1938, Page 4

PROGRESS MADE.

MACKY, LOGAN, CALDWELL i CHAIRMAN'S ADDRESS. DIFFICULT TRADING CONDITION'S. Gratifying evidence of the firm's continued progress was the main point stressed by Mr. H. M. Rogerson, chairman of directors of Macky, Lop,in. Caldwell. Limited, at to-day's annual meeting of shareholders. 11l moving the adoption (if the report and balance-sheet, which have already been published in these columns, Mr. Hogerson stated that both gross and net

profits liiid increased, each showing a satisfactory relationship to the other. This result was all the more pleasing in view of the very difficult trading conditions which had existed, pal ticularly during the past six months. The increased profit had only been rendered possible by the improved turnover anil by efficient work on the part of the executive under the control of the managing director. Mr. H. .1. Mills.

Dealing with future prospects. the chairman stated that trading conditions wore onerous and serious |irol>loms had to bo faced, but the management was aware or them and could be relied upon to make all possible provision t<> ensure a continuance 01 the company's progress. The report and balance-sheet were adopted uiianimou.-ly. and the retiring diiectors. Messrs. L. Griffiths and S. (J. Steer, were re-elected.