WAITAKI F.F. PROGRESS
Good Season So Far The Waitaki Fanners’ Freezing Company, Ltd, Pukeuri, so far had had a very good season, said the chairman (Mr D. Malcolm) at the annual meeting. The whole meat market in the United Kingdom had been very buoyant over the last two months for exceptional reasons. The number of sheep and lambs processed rose 43,425 to December 31. Unfortunately drought in a large proportion of the operating area had further affected the quality of the stock. The average weight of lambs so far was 28.16ib with 23.70 per cent f.a.q. against 29.121 b and 15.87 per cent f.a.q. last year. There were some direct immediate capital gains to the company with devaluation, said Mr Malcolm. As well, the share market responded and when the stock exchanges closed last year the company’s share portfolio rose $32,729 to $986,000 in value on that at the balance-date of October 1. The cost price of the portfolio was $839,514. Earning Capacity Devaluation had only a minor upward effect on the earning capacity of the company, said Mr Malcolm. The farmer was the direct beneficiary.
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Press, Volume CVIII, Issue 31584, 23 January 1968, Page 15
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186WAITAKI F.F. PROGRESS Press, Volume CVIII, Issue 31584, 23 January 1968, Page 15
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