Company News Fletcher’s Profit Higher

Press, Volume XCVII, Issue 28765, 10 December 1958, Page 23

Company News Fletcher’s Profit Higher

(New Zealand Press Association) AUCKLAND, Dec. 9. Fletcher Holdings, Ltd., earned a net profit before tax of £317.214 for the six months to September 30, compared with £301,157 for the first half of last year. The result, given today in an interim report, is subject to audit. Turnover for the six months was £B.lm, compared with £7.6m in 1957. The managing director (Mr J. C. Fletcher) says in the report that although tendering has been strongly competitive, sales of materials have remained buoyant. Holeproof Shares The directors of Holeproof Industries, Ltd., are advising the holders of the company’s ordinary shares not to sell.—(P.A.) Personal.—Sir J. Sutherland Ross has resigned his position as chairman of directors of the National Insurance Company of New Zealand, Ltd., for health reasons, but he will continue to act as a director of the company. Mr James M. Ritchie, of Dunedin, has been appointed chairman of directors of the company.— (P.A.) Austrian Appreciation.—The Austrian Red Cross Society has conferred a gold medal on the society in New Zealand in recognition of its work in helping refugees in Austria from the 1957 Hungarian uprising.—(PA)