Matakana Milling Optimistic

Press, Volume CVII, Issue 31412, 4 July 1967, Page 20

Matakana Milling Optimistic

Matakana Milling and Export Corporation, Ltd., Tauranga, face the future with sober optimism rather than apprehension, the chairman (Mr H. K. Bunn) told shareholders at the annual meeting.

Although the company had given emphasis to the expansion of local markets, export sales still contributed -40 per cent of the group’s income, Mr Bunn said. Nevertheless, it was not exploiting the export market to the full because directors believed it was necessary, within reason, to conserve the group’s foiiest resources. Moreover, any falling off in domestic sales, if or when it arose, could be met by transferring the emphasis to export sales. So far in the current year the new Te Puke company’s

business activity had continued at a generally higher level than for the corresponding period in 1966, he said. Current Year Excluding the new company, group income for the first five months of 1967 was 18 per cent higher than in 1966 and 32 per cent higher when income from the Te Puke company was included. As the figures covered about half the year, they encouraged confidence that ultimately the accounts for 1967 would be quite satisfactory, Mr Bunn said.