Dom. Fert. Expects Steady Profits
(New Zealand Press Association)
DUNEDIN, December 20.
Profit of Dominion Fertiliser Company, Ltd., Dunedin, should be at least as good as last year, the chairman (Sir Carl Smith), said today.
He made this forecast just before he announced to an extraordinary meeting of shareholders that he intended to retire from the board.
“For the eight months trading to the end of November, we are showing an increase in sales tonnage of 9 per cent, while for the same period production of fertiliser has increased by 15 per cent,” Sir Carl Smith said. “Indications for forward deliveries are good. “Hence for the year to the end of March, 1967, we should show an increase in output on the previous year, even though higher interest charges will be incurred.”
Sir Carl Smith reported that the new acid plant erection was up to schedule, and although the plant would substantially reduce factory operating costs for producing acid, initially higher depreciation would have to be provided for in its early years. Sir Carl Smith has been a director since 1956 and chairman since 1961.
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Bibliographic details
Press, Volume CVI, Issue 31248, 21 December 1966, Page 25
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185Dom. Fert. Expects Steady Profits Press, Volume CVI, Issue 31248, 21 December 1966, Page 25
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