YEAR OF DIFFICULTIES Increased sales by 6.S per cent for all its subsidiary companies were announced by the chairman of directors of Consolidated Brick and Pipe Investments, Ltd., Mr. T. E. Clark, at the annual meeting of shareholders in Auckland to-day. It must be borne in mind, however, he said, that a substantial part of the increase would be accounted for by increased prices. Profits had shown a very slight increase over the previous year amounting to £1024. Despite the fact that manufacturing costs had increased considerably and turnover had increased slightly, said the chairman, the directors had been successful in reducing overhead charges, and these showed a substantial reduction on those for the previous year.
"Generally speaking," said Mr. Clark, "the year under review has been a most difficult one. and although no effort has been spared to keep down manufacturing costs, factors beyond our control have made it a most difficult task. Prices of material and labour are ever on the increase, while there is always a most unjust lag between the increase in production expenses and any advance allowed by the Price Tribunal."
During the year capital additions were made to the value of £40.339 as against £43,676 for the previous year. The most substantial portion of this sum has been expended on additions to the new porcelain factory at New Lynn. Every effort has been made during the year to keep the company's plant and equipment in first-class order, the sum of £29,051 having been spent in this respect, while for the previous year repairs and maintenance amounted to £22,549 9/3. Stocks at all the company's factories as at the end of the subsidiary companies' trading year amounted to £70,175 16/2 as against £57.806 15/6 last year. The Kamo factory, stated Mr. Clark, continued to manufacture refractory materials of the very highest quality. For some | considerable time the company had been dis- ! posing of the whole of its output of bricks and ; pipes, but unfortunately this had been well below what the company was capable of turning out. The main trouble had been the difficulty I in procuring supplies of labour, but the position in this respect now appeared to have eased slightly and might improve in the future. Many technical improvements have been instituted in the porcelain department.
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CONSOLIDATED BRICK, Auckland Star, Volume LXXVI, Issue 193, 16 August 1945
CONSOLIDATED BRICK Auckland Star, Volume LXXVI, Issue 193, 16 August 1945
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