HENRY BERRY PROFIT UP

Press, Volume C, Issue 29682, 28 November 1961, Page 21

HENRY BERRY PROFIT UP

Prospects Better Says Chairman (N.Z. Press Assn—Copyright) MELBOURNE Nov. 27. Profit of Henry Berry and Co (Australasia), Ltdwholesale grocers, was higher in the first four mouths of the current year than in the same months of the previous year, the chairman (Mr H. F. Walsh) states in his annual report to shareholders. The board was confident that the considerably higher profit budgeted for in the current year would be achieved. If the recent lifting of the credit squeeze resulted in a substantial improvement in general trading conditions then a very satisfactory result would be achieved. Results in the last year had been affected by the credit squeeze, reorganisation of certain activities in accordance with planned development, and a loss in a subsidiary company due to technical difficulties experienced with new plant Reorganisation The reorganisation had now been completed and the technical difficulties overcome. Considerable progress had been made in the last year in line with the company’s policy of developing new lines, both in the consumer and durable fields. Several of the new lines had already been released on the market and were proving successful, while one had considerable export potential and was currently undergoing end-user tests in three overseas countries, including the United States.