Spedding profit forecast
(N.Z. frits Association) AUCKLAND, Sept. 1. Spedding Consolidated, Ltd, Auckland merchant and shipping agent, should at least equal last year’s profit, the chairman (Mt F. H. Reynolds) said at the annual meeting of the company today. Mr Reynolds said that because of the mild winter, the demand for winter sale goods was considerably reduced, i “This resulted in the volume of business in our heating division being most disappointing,’’ he said. However, increased turnover in other departments had offset this decrease.
In the year to March 31, the company increased profit by 13 per cent to $110,900 and increased its dividend payout by j per cent to 14j per cent.
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Press, Volume CXI, Issue 32701, 2 September 1971, Page 16
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113Spedding profit forecast Press, Volume CXI, Issue 32701, 2 September 1971, Page 16
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