Rickstan Improves Manufacturing
(New Zealand Press Association)
AUCKLAND, December 1
Trading of the manufacturing units of Rickstan Holdings, Ltd, Auckland, has shown an improving trend in the half-year to September 30, directors say in their interim report.
Continuing losses had arisen from the retail branches which were unprofitable last year. Four had been closed but assignments of long-term leases have proved difficult to arrange. In spite of I this, there had been a marked improvement in the group’s liquidity in recent months and arrears in creditors accounts had been virtually eliminated. This improvement, directors contended, had been the result of strict control over purchasing and operating expenses, together with the realisation of stock from the closed retail branches. Appropriate steps were
being taken to further improve trading results from the manufacturing units and to dispose of the remaining retail leases.
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Bibliographic details
Press, Volume CVII, Issue 31542, 2 December 1967, Page 18
Word Count
140Rickstan Improves Manufacturing Press, Volume CVII, Issue 31542, 2 December 1967, Page 18
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