T. TOT ARA DEB. ISSUE

Press, Volume CVI, Issue 31226, 25 November 1966, Page 17

T. TOT ARA DEB. ISSUE

Higher Profit Forecast (N.Z. Press Association) AUCKLAND, Nov. 24. The Taupo Totara Timber Company, Ltd., Putaruru, expects profit in the current year to be higher than last year’s record £138,173. The managing-director (Mr H. B. Woollett) says this in the prospectus for the £250,000 debenture issue, which will remain open until subscribed.

The turn-over in the first half of the current year was higher than in the corresponding period last year. The directors are confident that as a result of the modernisation and streamlining of production methods and the expansion of sales outlets, the upward trend in profits could be maintained. The funds now to be raised will assist in the continuation of this programme. The reafforestation and regeneration of the company’s forests would enable the present level of output to be maintained or increased for the rest of this century.

Dom. Breweries

Trading Results Ep

Dominion Breweries Ltd., Auckland, maintained satisfactory trading results in all departments in the half-year to September 30, generally at a higher level than for the same period last year, directors say in their interim report. As announced, interim ordinary and preference dividends have been maintained at 5i per cent.

holdings was also detrimental to our liquid position. Steps have been taken to reduce our stocks and improve our liquidity during the current year. “The next factor which materially contributed to the reduction in profits was the loss which resulted from our South Island knitwear manufacturing operations. “During the last few years, the knitwear trade has become steadily more difficult, both in respect of manufacturing and markets.