A. HEALING‘OVER THE WORST’
No Large Loan Repayments (N.Z. Press Assn.—Copyright) MELBOURNE, December 5. Shareholder critics of A. G. Healing, Ltd., were told at the annual meeting today, that the company was “over the worst.” In the year to June 30 the company incurred a loss of 1,122,254 dollars, compared with a profit of 1,085,298 dollars in the previous year. Dividend was omitted. The chairman (Mr K. G. Healing) said one of the most pressing problems during the last financial year had been liquidity. To meet its obligations and reduce liabilities by 3 million dollars at a time when it was incurring losses, had not been easy for the company. Short-term Loans Short-term loans had been obtained without much difficulty on the open market, but it had not taken long for news of the liquidity problems to reach all sections of the market. “While all is not yet plain sailing, we do not have to repay any large sums of loan money until March, 1970, when registered debentures worth 2,704,400 dollars mature,” Mr Healing said.
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Press, Volume CVI, Issue 31235, 6 December 1966, Page 27
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175A. HEALING‘OVER THE WORST’ Press, Volume CVI, Issue 31235, 6 December 1966, Page 27
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