Ballins Half-year Trading Ahead

Press, Volume CVII, Issue 31385, 2 June 1967, Page 13

Ballins Half-year Trading Ahead

Ballins Industries, Ltd., Christchurch hotel owner, wine and spirit merchant and soft drinks manufacturer, achieved a steady increase in trading results for the half-year to March 31 over those for the same period last year, says the chairman (Mr N. W. Millner) in the directors’ interim report.

As long as trading conditions remain reasonably normal the final result for the year should show still further progress. A steady interim dividend of 4 per cent has been declared, payable July 31, ex July 17. Last year, profit rose 18.5 per cent to £184,571 and covered the steady 10 per cent dividend nearly 1.5 times. Import Licences The availability of imported spirits has been further affected by the recent additional cut in import licences and negotiations have now been concluded, with overseas suppliers, which will enable liquor merchants to import the principal popular brands of whisky ih bulk, says Mr Millner.

These will then be bottled in New Zealand. The outcome of this will more than offset the recent 20 per cent cut in licences. Similar action is also being taken with other imported spirits, including brandy and rum. Hotel Division The demand for top class accommodation, even in the tourist season, has not come up to expectations, he says. As a result, a section of the accommodation in one of the leading hotels has been closed down.