Pye interim profit slightly ahead
(New Zealand Press Association) AUCKLAND, April 20. Profits earned by the Pye Electronics, Ltd, group in the first quarter of the current year were slightly in excess of those for the three months to March 31, 1970, the chairman (Mr G. A. Woolier) told the annual meeting.
The good result in the year J to December 31, when the
net profit increased 23.5 per cent, reflected careful planning and a commitment to sheer hard work by the entire staff. It had been achieved despite the economic crisis through which the country was passing. Planning, and hard work bad pushed up returns and production “as the loyal answer to substantial increases in wages," Mr Wool-
ler said. , • On his retirement as managing-director, Mr Woolier said that his handing over the direct management to Mr M. J. Hunt at the relatively early age of 60 was a good thing for all concerned. There was a team of young executives. Mr Woolier devoted most of his address to the attitudes of employers, and workers, during the present inflationary time.
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Press, Volume CXI, Issue 32587, 22 April 1971, Page 16
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181Pye interim profit slightly ahead Press, Volume CXI, Issue 32587, 22 April 1971, Page 16
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