ALLEN IND. PROSPECTS
Profits Less “Spectacular” (N.Z Press Association! AUCKLAND, Aug. 25. Directors of Allen Industries, Auckland calendar maker and printer, do not expect that future group profits will show the last year’s “somewhat spectacular” improvement, the chairman (Mr L. R. Allen) told the annual meeting today. It was confidently expected that the present position in New Zealand would continue.
However, now that the Australian subsidiary was profitearning, and profits there would soon be subject to taxation, it was unlikely that the improvement shown this year would be maintained. Balance Of Losses
There was still a balance of losses to be carried forward in Australia where, as reported; a loss of £7046 was replaced by a profit of £12,473 to the year to March 31. Mr Allen said sales in Australia had actually been 2 per cent lower, but the complete reorganisation had considerably reduced expenses. A distributor agreement tad been negotiated with a well-known firm with branches throughout Australia. Sales in New Zealand tad risen 8 per cent in the last year.
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Bibliographic details
Press, Volume CIV, Issue 30839, 26 August 1965, Page 17
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173ALLEN IND. PROSPECTS Press, Volume CIV, Issue 30839, 26 August 1965, Page 17
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