WILSON AND HORTON

Press, Volume CVI, Issue 31236, 7 December 1966, Page 25

WILSON AND HORTON

Turn-over Improves (N.Z. Press Association) AUCKLAND, Dec. 6. Group turn-over of Wilson and Horton, Ltd., publisher of the “New Zealand Herald” and the “Weekly News,” showed a satisfactory improvement in the six months to September 30 over the corresponding period last year, the directors say in an interim report. Revenue remained buoyant, and reflected the increase in the selling prices of the Herald and the “Weekly News.” Costs, however, continued to rise and more than absorbed the additional revenue, so that profit for the period was lower. The main costs are for newsprint and wages, say the directors. A new contract that will stabilise the cost of newsprint for the next three years has been negotiated but the wage bill continues to mount. In the six months under review the company paid out £lOB,OOO more than in the corresponding period last year.

It now has to meet the cost of the general wage order announced last month. The directors are continuing their efforts to achieve economies and increase efficiency.

There is reason to hope that profit for the full year while not matching the record result of last year will be satisfactory.

UNIT TRUSTS

Buy Sell s d. s d 1st N.Z. Unit ... 4 5 4 9 N.Z. Income* . 4 3 4 7 N.Z. Accum. ..5 4 5 8 1st Dom. .. .. 3 11 — 2nd Dom >. 4 10 MB Mut. Fund ..5 3 s 1 Inv. Unit* ..4 9 s 2 Sec. First* ..7 8 * 2 • Ex dividend.