Odlin Affected By Recession
The preliminary unaudited net profit of C. and A. Odlin, Ltd, timber and hardware company, fell $101,036 —or 21.5 per cent—to $369,256, in the year to June 30.
The directors says the result reflects the effect of the economic recession for the building supply industry and the sale of domestic hardware and home appliances.
; Sales in the current year j have improved, and although trading is highly competitive, there is growing evidence of a return of confidence in many areas throughout the country. Dividends will be maintained on the same basis as in previous yeans and payment of final dividends will be made as follows:—on the “A" preference shares $2 each — three per cent less social security income tax, which makes six per cent less social security tax for the year. The final dividend on ordinary shares will be seven per cent, making an unchanged 10 per cent for the year; ex-dividend November 9.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19681005.2.171.2
Bibliographic details
Press, Volume CVIII, Issue 31802, 5 October 1968, Page 20
Word Count
158Odlin Affected By Recession Press, Volume CVIII, Issue 31802, 5 October 1968, Page 20
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.