CYCLONE IND.

Press, Volume CIII, Issue 30630, 22 December 1964, Page 21

CYCLONE IND.

Turn-over A Record

Cyclone Industries (N.Z.), Ltd., Christchurch manufacturer of fencing, gates and tubular products, had a record turn-over in the six months to September 30, says a half-yearly report by the the chairman of directors (Mr C. S. Peate) to shareholders. Profit was very satisfactory.

“However, the general 6 per cent general wage order and other expense increases will make it difficult to keep costs in line during the second half of the financial year,” says the report. Trading at branches has been buoyant and additional factory space was being built at Dunedin and planned for Invercargill. Plans for building on the three acres of land in Maces road, Christchurch, were nearly completed. The associate company in Hastings, Cyclone-Auto (H. 8. Ltd., had a successful halfyear and Cyclone-Auto Products at Auckland should develop rapidly as the move to more spacious premises and other developments took full effect, ends the report.

Income Trust Dividend Up

The New Zealand Income Trust earned 1.636 d a unit compared with 1.619 d for the same period last year, in the six months to October 31, says a directors’ report. The amount is before providing for taxation and expenses. Current distribution has been increased from 1.2 d a unit to l-3d a unit or 10s lOd each 100 units. This is an increase of lOd a 100 units on the same period last year.