TRADING BY N.Z. NEWS
Buoyant Trend Continues (N.Z. Press Association) ■ AUCKLAND, June 26. Trading conditions have remained buoyant for New Zealand Newspapers, Ltd., since the start of the current financial year, the chairman, Mr E. H. Rhodes, told the annual meeting yesterday. • The ratio of profit to turnover had so far been maintained, he said. However, it was difficult to estimate the effect possible general wage orders and award increases would have on the profit for the balance of- the year. ' Fortunately, directors expected that the price of newsprint which constituted about 35 per cent of the company’s cost of production, would not increase in the next six months, Mr Rhodes said.
Taubmans Move.—Taubmans Industries, Ltd., has converted 12,768 ordinary shares of 5s each into stock units of 5s each in pursuance of the company’s articles of association, and these have been allotted by the directors at a premium of Ils 3d per share to acquire from an overseas associated company, certain of Its Australian interests. The new stock will rank pari passu with Other ordinary stock already issued. — (P.A..) _
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Bibliographic details
Press, Volume CIII, Issue 30478, 27 June 1964, Page 16
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180TRADING BY N.Z. NEWS Press, Volume CIII, Issue 30478, 27 June 1964, Page 16
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