CHANGES BY TEKAU
Consolidation Benefits Consolidation of operations by Tekau Knitwear should show benefits in next year’s accounts, according to the chairman (Mr F. H. Mclntosh). In his report Mr Mclntosh says that in the year to May 19, the company closed all sections not trading profitably. All manufacturing has been concentrated in plants at Timaru and Ashburton. This has been done without loss of turn-over and resulted in better control and more efficient operation, he adds. A profit recovery of £20,387 to £40,307 is confirmed in the full accounts. No ordinary dividend is being paid. Earning rate on shareholders’ funds, up from £571,979 to £610,248, is 6.6 per cent against 3.5 per cent last year.
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Press, Volume CVI, Issue 31123, 28 July 1966, Page 23
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116CHANGES BY TEKAU Press, Volume CVI, Issue 31123, 28 July 1966, Page 23
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