HOLEPROOF SALES UP

Press, Volume CIX, Issue 32120, 16 October 1969, Page 16

HOLEPROOF SALES UP

Pref. Dividend Raised To 7% (N.Z. Press Association) AUCKLAND, Oct. 15. Holeproof Industries, Ltd Auckland, is to lift its preference dividend from 6 per cent to 7 per cent, the chairman (Mr H. Korman) told the annual meeting today. Sales in the first two months of the year, he said, were well ahead of the corresponding period last year. “If current conditions continue, results for the 11 month ending June 30 will be rewarding,” he said. Mr Korman had already told shareholders that the current fiscal period would cover only 11 months to bring the company’s balance-date into line with that of the parent company, Dunlop Australia, Ltd, Melbourne. As reported previously, the company returned a record net profit of $33,661 in the year to July 31. Co-operation with the parent company, he said, was proceeding according to plan. Dunlop Australia is establishing a textile group and the function of the group would be to develop a common policy which would promote the growth of the company’s individual textile manufacturing units in Australia and New Zealand.

Bauxite Search I (N.Z. Press Assn.—Copyright) PERTH, October 13. The Western Australian Government has excised about 46,000 acres of a 600,000-acre native reserve at Admiralty Gulf, in the Kimberleys, for bauxite exploration.