FARMERS’ FERT.

Press, Volume CVI, Issue 31123, 28 July 1966, Page 23

FARMERS’ FERT.

Output Rises To New Peak (N.Z. Pr«M Astociation) AUCKLAND, July 27. The output by the New Zealand Fanners’ Fertilizer Company, Auckland, rose 8.5 per cent to a record 750,000 tons in the latest year and deliveries rose £lm to more than £Bm, said the chairman (Mr J. B. Johnston). A greater tonnage could have been produced but a wet autumn, particularly in Northland, curtailed topdressing. As announced, the group profit rose £135,998, or 56 per cent, to £379,158 and dividend is maintained at 9 1/6 per cent on ordinary capital. Modest Profit The Northland Fertilizer Company Ltd.’s loss of the previous year was changed to a modest profit and the return from this subsidiary should improve year by year as the write off for depreciation reduces, said Mr Johnston. Directors had reluctantly decided to abandon the Grace-field-Wellington project, the site tested with Kempthorne Prosser and Company’s N.Z. Drug Company Ltd. Another manufacturer was establishing an inland works near Masterton and there was not the potential demand in the area for a second works. The major work in the Auckland works was behind schedule but should be completed and in operation by the end of 1966. The expansion programme generally was proceeding well. The new plant at New Plymouth came into production at the end of February and the whole of its currently planned programme should be finished by the end of May next.