C. A. ODLIN REPORT

Press, Volume CVI, Issue 31221, 19 November 1966, Page 20

C. A. ODLIN REPORT

Further Rise In Sales

(N.Z. Press Association) WELLINGTON, Nov. 18. “I am pleased to be able to report that our over-all group sales for the current year to date, slightly exceed those for the corresponding period last year,” says the chairman of the C. and A. Odlin Timber and Hardware Company (Sir Bernard Ashwin) today in his report to shareholders. “Credit restrictions will no doubt apply until the country’s balance of payments position is corrected, but provided we can maintain our sales and keep our costs and expenses in check, there appears to be no reason why we should not again produce another satisfactory result for the coming year,” he said. “The year under review has been one of further achievement with both sales and profit exceeding previous peaks. Consolidated profits after tax, rose for the seventh successive year, to a new record at £231,485 —an increase of over 25 per cent.

Tappenden Will Hold Dividend

(N.Z. Press Association) AUCKLAND, Nov. 18. Tappenden Motors Ltd., Auckland Vauxhall and Bedford distributor, expects to maintain its 121 per cent dividend for the latest year, directors say. They have declared an interim dividend of 5.85 per cent, payable December 16, and expect to recommend a final of 6.65 per cent.