L.W.R. SALES SPURT

Press, Volume CIX, Issue 32219, 11 February 1970, Page 17

L.W.R. SALES SPURT

Lane. Walker, Rudkin In- ’ dustries, Ltd, lifted its turnover above Slim in the half-year to December 31, the directors announced yesterday. This was S4tn higher than sales in the last six months of 1968. The enlarged group's sales rose to Sl7m in the last full year, profit rising 26 per cent to $868,795, and the directors predicted in September that there would be another increase this year. • They said yesterday that j staff shortages were threatening production planning, but that the rise in sales should continue. An interim dividend of 5 per cent will be paid on March 6. This is based on

the forecast of an annual dividend of 11 per cent, the same as last year and equivalent to 13.75 per cent on capital before the bonus issue. The increase in sales was partly caused by the predicted rise and partly by the inclusion of the results of L.W.R.’s three new Auckland subsidiaries, Auckland Knitting Mills, Amtex Fabrics, and Commercial Dyers. The directors said that their plans to rationalise and further diversify into the strong growth fields of knitted fabrics were proceeding satisfactorily, and each subsidiary had made a profit.