Wilson and Horton sees steady profit

Press, Volume CXII, Issue 33062, 1 November 1972, Page 2

Wilson and Horton sees steady profit

(New Zealand Press Association)

AUCKLAND, October 31

The directors of Wilson and Horton, Ltd, publisher of the “New Zealand Herald,’’ today announced an unchanged interim dividend of 5£ per cent, and forecast a result for the year close to that of last year.

| just concluded the cost of j neswprint has risen and I other charges have continued I to run at a level substantially I higher than in the corresponding period of last year. At the same time, recovery by means of increased rates or prices has been greatly restricted by the Stabilisation of Prices Regulations. “In the current half-year,” says the report, “the cost-of-living order and various new awards will again lift our wage bill. On the other hand, an increase in general business activity has markedly stimulated advertising revenues over the last two months—a trend that should contiue. “Although our net profit for the first six months was below the figure for the corresponding period last year, the indications are that the final results will at least come close to matching those of the last financial year,” says the report.

The payment will be made] on December 1. The report to shareholders; says that during the half-year