CYCLONE IND. HALF-YEAR
Profit Slightly Lower
Cyclone Industries (N.Z.), Ltd., Christchurch fencing, gate and tubular products manufacturer, earned a slightly lower profit for the first six months of the current year compared with the same period last year, directors say in their interim report Sales are about the same. General expenses have been contained at a satisfactory level, but wages and salaries reflect the award increases and the need to bid for labour, they say. These costs can not be recovered at present.
Brierley Lifts Dividend
R. A. Brierley Investments, Ltd., Wellington, has raised its dividend from 7 per cent to 7J per cent for the year to June 30.
The parent company earned a substantial increase in profit, mainly because of nonrecurring items on reconstruction, says the chairman (Mr R. A. Brierley). However, the group result is affected by the winding-up of some subsidiaries and the writing down in value of other assets.
Because the company was involved in extensive reorganisation of some subsidiaries, particularly in Australia, at balance date, the accounts have been delayed. The annual report will be mailed to shareholders in the New Year, he says.
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Bibliographic details
Press, Volume CVI, Issue 31247, 20 December 1966, Page 31
Word Count
190CYCLONE IND. HALF-YEAR Press, Volume CVI, Issue 31247, 20 December 1966, Page 31
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