AUST. NEWSPRINT MILLS

Press, Volume C, Issue 29681, 27 November 1961, Page 20

AUST. NEWSPRINT MILLS

No Marketing Problem* (NX. Press Assn.—CopyritiM) MELBOURNE. November 26. Australian newspaper companies had contracted to buy the whole of the output of < Australian Newsprint Mills . Holding, Ltd., until June, 1966, the chairman (Mr R. A. : Henderson) told shareholder* 1 at the annual meeting. It was gratifying for 1 directors to be able to present ' to shareholders results for the 1 June, 1961, year which were comparable to those of the I previous year, said Mr Hen- I derson. 1 Other sections of the paper < industry had been gravely ' disturbed as a result of I economic conditions and com- ; petition from imports. But these factors had not , affected Australian Newsprint ; Mills because of the unique , circumstances which ensured , that the company had no . marketing problem. During the current financial j year the company aimed to ' produce and sell 90,000 tons of newsprint compared with , 88,040 for the 1961 financial year. So far it was running well in line with that target, he said. I Consolidated Metals.—An 1 interim dividend of 4 per 1 cent for the half year ended 1 September 30 has been announced by the directors of Consolidated Metal Industries, Ltd.; a New Zeeland holding company with manufacturing engineering intereeta. The dividend is payable on December 22 and ex div. on December 18. Vesta Battery Loss.—Vesta . Battery Company, Ltd., Sydney. incurred a heavier loss at £96310 for the year ended June 30. The company lost ' £50,896 the previous year • after earning a profit of £67388 in 1058-68. The result 1 is after tax £6O (down , £8249) and depreciation ‘ £34.952 (up £3718).