COMMERCIAL Marlin Confident Of Steady Profit, Div.

Press, Volume CVIII, Issue 31741, 26 July 1968, Page 17

COMMERCIAL

Marlin Confident Of Steady Profit, Div.

Marlin Carpets, Ltd, Christchurch, could see no reason why the increase in profit for the latest year and the higher dividend of 16 per cent could not be maintained, said the chairman (Mr W. H. Dutfield) in his address presented to the annual meeting yesterday.

However, this assumption was based very broadly on the maintenance of the status quo as to prices and wages. However, the company would do its utmost to see that profits and dividends were at least maintained, if not increased in the current year.

If directors knew to what extent future acquiescence would be made to the ever recurring wages demands, what the price of wool was going to rise to from its recent “low,” what the effect of devaluation would ultimately be on the price of jute and cotton yarn: and whether the Australian Government would restrict imports: then they could make a reasonable forecast for the next 12 months, he said. Carpets Dearer

Costs will almost certainly rise and it is almost certain that carpet prices will have to be increased to cover this. However, he felt that the

company could look forward with quiet confidence to a year of continued expansion.

Devaluations had helped the company with exports and production has increased as a result of new looms being introduced. The profit for the latest year to March 31 rose $50,939, or 34.3 per cent, to $199,463, and the dividend, raised from 15 to 16 per cent, was covered 1.9 times by the profit.