N.Z. FOREST SALES RISE TO $52.6m

Press, Volume CVIII, Issue 31657, 18 April 1968, Page 12

N.Z. FOREST SALES RISE TO $52.6m

(N.Z. Press Assn.—Copyright) AUCKLAND, April 17. Exports were chiefly responsible for boosting the sales of N.Z. Forest Products, Ltd, Auckland, by s4.Bm or 10 per cent, to a record of more than $52.6m in the year to March 31, the managingdirector (Mr R. H. Smythe) announced today. The company usually announces its profits and dividend in the middle of May. The latest sales figure includes two months sales of B. J. Ball (N.Z.), Ltd, Auckland, the country’s biggest paper merchant, which was taken over in a deal worth $3,164,000 to-

wards the end of last year. Mr Smythe said the inclusion of B. J. Ball sales for the short period did not materially affect the over-all sales figure. Export sales exceeding sl2m rose $4.4m, or 58 per cent, over the $7.6m export figure for the previous year. Export sales represented 23 per cent of total sales for the year to March 31, compared with 16 per cent in the previous year. The sl2m export figure announced today was slm higher than the estimate given in February. r At that time he forecast that exports in 1968-69 would increase to sl6m.