Rotoiti profit up 57.2%
(N.Z. Press Association) WELLINGTON, Sept. 8. The Rotoiti Timber Company, Ltd, which has received a first-come-first-served offer for 20,000 shares at 135 c a share, has reported an unaudited net profit for the year to June 30, of $14,591, compared with $9280 last year. The dividend rate is increased from 8 to 10 per cent.
In a statement to the Stock Exchange Association the directors of the company announced that the company was negotiating for supplies from other areas with the present bush almost cut out. “When more log supplies become available fresh marketing arrangements will need to be made. Future operations and trading will depend on the conclusions then reached both as regards bush and marketing negotiations,” they said.
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Press, Volume CXI, Issue 32707, 9 September 1971, Page 16
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124Rotoiti profit up 57.2% Press, Volume CXI, Issue 32707, 9 September 1971, Page 16
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