Sharland Sales, Turn-over Held

Press, Volume CVI, Issue 31231, 1 December 1966, Page 23

Sharland Sales, Turn-over Held

(New Zealand Press Association) WELLINGTON, November 30. Turnover in Sharland Company, Ltd.’s, warehouses and sales for all products from factories is being well maintained, says the chairman (Mr B. T. O’Connell) in his annual report.

With the continually increasing costs and expenses and in some cases substantially reduced profit margins, the closest attention will be required to ensure that profitability of all operations is

maintained in the coming year, he says. The profit in the year to August 31, rose 5 per cent, or £4451, to £94,231 in spite of “dangerously rampant” increasing costs. This year business has been fairly buoyant although competition has been extremely keen, says Mr O’Connell. As announced, the steady 10 per cent dividend requires an unchanged £64,787. Provisions The latest profit is after providing £1328 less for depreciation at £39,570 and £7358 more for tax at £90,693. Shareholders’ funds are £120,820 higher at £1,478,932. Issued capital is steady at £647,866. Mr O’Connell says the group's exports increased 50 per cent. During the year, mainly as a result of trade with the Pacific Islands. The sophisticated North American Continent has proved to hold promise for the manufactured food lines and sales potential is greatly increased with the projected start of Pukekohe factory.