P.T.Y. Profit Up Sales Down
fNZ. Press Association) AUCKLAND. Nov. 13. P.T.Y. Industries, Ltd, Putaruru timber and building group, maintained profit in the first half of the current year slightly above last year’s level despite a 10 per cent drop in timber sales Reporting this in their interm statement, directors say it was due to careful control of costs and expanding export receipts. By the middle of the year timber sales had fallen to the lowest level for a number of years, and the backlog of outstanding orders had been virtually exhausted. However, the return of confidence and the easing of restraints on home lending have brought improvements and the timber departmentsl are again working at a nor-! mal level.
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Press, Volume CVIII, Issue 31836, 14 November 1968, Page 19
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120P.T.Y. Profit Up Sales Down Press, Volume CVIII, Issue 31836, 14 November 1968, Page 19
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