L.W.R. SALES INCREASE
Budgets met in spite of costs The directors of Lane, Walker, Rudkin Industries, Ltd, report that consolidated sales of the Christchurch, Auckland and Wellington subsidiaries exceeded $11.9m for the six months to December 19, the group sales figure for the corresponding half-year in 1969 exceeded sllm.
“The period under review, has seen a rapid spiralling of costs,” they say. “However, a further increase in sales and a continued effort by management to conrtol costs to the fullest degree possible have enabled the half-yearly budgeted profit situation to be maintained. “The subsidiary companies in Auckland, Wellington and Christchurch and the associate company, Dominion Yams and Fabrics, Ltd, have each traded profitably during the period. “The economic and industrial problems which confront New Zealand at this time make an accurate assessment of results for the full financial year somewhat difficult but, failing a serious decline in the economy, the directors expect a continuance of a 12 per cent dividend for the year to June 19.”
An unchanged interim dividend of 5 per cent payable on March 5, has been declared.
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Press, Volume CXI, Issue 32524, 6 February 1971, Page 18
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181L.W.R. SALES INCREASE Press, Volume CXI, Issue 32524, 6 February 1971, Page 18
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