G. J. COLE’S PLANS

Press, Volume CIII, Issue 30587, 2 November 1964, Page 18

G. J. COLE’S PLANS

Supermarket Expansion (N.Z.P.A.-Reuter—Copyright) MELBOURNE, October 30. G. J. Coles and Company, Ltd., big chain store group, expected that an increasing part of its expansion would be in the supermarket field, the chairman (Sir Edgar Coles) said. This field, although highly competitive, was profitable to an efficient operator, he told the annual meeting. He said directors believed the company’s variety stores would continue to provide the major part of profits. Prosperity Nationally, the country was at present enjoying a period of prosperity, and with a stable economy there was every reason why the company should continue to grow in proportion to the development of Australia. Directors considered that the company was in a sound position and they looked to the future with confidence. The supermarket division had achieved considerable success in co-ordinating the activities and operations of “New World” supermarkets throughout Australia, he said. Petersville Progress (N.Z. Press Assn. —Copyright) MELBOURNE, October 30. Petersville, Australia, Ltd., Mg ice cream and food group, was “on budget” in the first quarter of the cur er nt year the chairman (Mr E. Christensen), said at the annual meeting. Sales and profits were both greater than for the same period of last year. Mr Christensen said that of the group’s assets of £13,900,000, £7,900,000 were in Victoria, £3,400,000 in Tasmania, and £2,400,000 in New South Wales. Plans for increasing production from the potato processing plant had already been made for the current year.