HOLT SALES HIGHER BUT PROFIT DOWN

Press, Volume CVI, Issue 31333, 1 April 1967, Page 18

HOLT SALES HIGHER BUT PROFIT DOWN

(N.Z. Press Association) WELLINGTON, Mar. 31. Sales of Robert Holt and Sons, Ltd., Napier sawmiller, builders' merchant and boxmaker, in the first half of the current year increased by £133,953, or 8.3 per cent, to £1,756,464, on the same period for last year, directors report. However, while sales have increased at all branches,

business is much more competitive and in some departments margins have been reduced.

This factor, together with some non-recurring costs coming to account early in the year, has resulted in a slightly lower net profit for the period, compared with last year. These costs were mainly incurred in production units where it was felt greater efficiency was required and the benefits from these should accrue in future.

While the prevailing economic conditions continue there can be no great increase in building activities on which our industry is dependent, directors say. As long as there is no marked deterioration between now and the end of the year, it is expected that the company will continue to show a satisfactory net profit.