PRESTIGE NET PROFIT
Increase Of 88 p.c.
, (N.Z. Press Assn.—Copyright) MELBOURNE, July 22. Prestige, Ltd., hosiery, lingerie, and fabric manufacturers, increased turn-over in 1962-63 by 3.2 per cent, on the previous year. The chairman (Mr G. G. Foletta) told shareholders today that the increase strengthened optimism for a “worthwhile” improvement during the spring and summer seasons.
Net profit from trading by the group was £312,786—an increase of 88 per cent, on the figure for the previous year.
Mr Foletta said that in spite of numerous difficulties which confronted the whple textile Industry over a lengthy period, Prestige was “well equipped” to meet expected future demands.
Tootal Take-over.—The English Sewing Cotton Company. Ltd., has received acceptances of its offer from more than 90 per cent, of the shareholders of Tootal Ltd. and the offer is now unconditional. The company will now acquire the whole of the issued capital of Tootal.
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Bibliographic details
Press, Volume CII, Issue 30190, 23 July 1963, Page 19
Word Count
149PRESTIGE NET PROFIT Press, Volume CII, Issue 30190, 23 July 1963, Page 19
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