N.Z. FARMERS’ HAS STEADY PROFIT
Successful export trading enabled the New Zealand Farmers’ Co-operative Association of Canterbury, Ltd, Christchurch, to improve its profit by $B5B to $217,246 in the year to July 31, directors say in a preliminary report.
A steady 8 per cent dividend has been recommended, payable after October 22, ex October 9, which will again require $176,000. This is covered 1.2 times. The company passed
through an extremely difficult year in the motor division. Retail trading has been anything but buoyant and commission earnings from certain phases of the stock and station activities have been at a lower level, says the report. Export Trade Fortunately, efforts to develop the export trading substantially have been successful with the result that as well as the very satisfactory earnings from exports, substantial tax savings have been made. The liquidity ratio of current assets to current liabilities stands at 2.4 to 1, while the bank overdraft is down $900,000.
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Press, Volume CVIII, Issue 31781, 11 September 1968, Page 21
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158N.Z. FARMERS’ HAS STEADY PROFIT Press, Volume CVIII, Issue 31781, 11 September 1968, Page 21
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