PROSPECTS FOR REPCO

Press, Volume CIV, Issue 30857, 16 September 1965, Page 20

PROSPECTS FOR REPCO

Good Progress Expected (N Z. Press Assn. —Copyright > , SYDNEY, September 18. Repco, Ltd., Australia’s big-, gest automotive parts groun | believes 1965-66 will provide excellent opportunities for good progress, the chairman and managing director (Mr C. G. McGrath) says in his review to be presented at the annual meeting. The company expects the ' “after market” (parts for

vehicles on the road) to continue to grow at a strong rate next year. Mr McGrath says that the industry stiil awaits announcements of the Tariff Board findings which it understood' had been presented to the Minister for Trade. Opportunities

A favourable recommendation from the Tariff Board accepted and implemented by the Government, would provide opportunities for the whole of the automotive industry in Australia to plan for substantial future development.

Discussing results for the year to June, Mr McGrath says that they fell short of directors’ expectations. Consolidated net earnings, alreadv announced, improved from £2,112,584 to £2,163,113

Terms For Con. Brick’s Issue

(N.Z. Press Association) WELLINGTON, Sept. 15. Consolidated Brick and Pipe Investments’ issue of one 10s note for every five ordinary or preference shares, closes on October 29. Terms are 10s payable on application or 5s payable on application and 5s payable on May 1, 1966. Payments in advance will earn interest at 5 per cent a year Notes convert to ordinary shares on a one-for-one basis on April 30, 1970. Shares are ex rights on September 20.