Record profit expected by N. King
(N.Z. Press Association) NEW PLYMOUTH, Nov. 8. The company can expect a better year than last year’s record, the chairman of Newton King, Ltd, (Mr I. S. McLeod) said at the annual meeting. “In the first quarter of this financial year the company’s net profit is ahead of last year’s results for the same period by a satisfactory margin," Mr McLeod said. “Merchandise sales in all divisions have been good for the first quarter, while the commission departments have continued to return improved results.
“The rise in operating costs still continues despite all our efforts at cost saving. “Traditionally, the company earns more in the second half of the financial year than in the first,” Mr McLeod said. The firm will have the full 12 months profit from Rod Weir and Company, Ltd, and also the profit from the newly-acquired Feilding Bacon Company, Ltd. A final dividend of 4 per cent will be paid on ordinary shares, making a steady 8 per cent for the year to June 30.
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Press, Volume CXII, Issue 33068, 8 November 1972, Page 25
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175Record profit expected by N. King Press, Volume CXII, Issue 33068, 8 November 1972, Page 25
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