Carlton rate slowed
(N.Z. Press Assn.—Copyright) MELBOURNE, January 25. Australia’s biggest brewing group, Carlton and United Breweries, Ltd, is fighting a losing battle to maintain its growth in profitability. Gross profit for the halfyear to December 31 was up 14 per cent on the corresponding previous record, but net profit showed a meagre gain of 1.4 per cent. Industrial disputes, which included overtime bans and a total shut-down for two weeks in October, were one reason for the reduced profitability. An increase in excise duty and other fiscal measures are contained in the Labour Budget. Combined with higher charges in the various state budgets, the increases totalled about s3m on an annual basis. Increased wage rates and higher salaries added a further s3m to annual expenses. In addition, the company said higher charges were being made by most suppliers for raw materials and the latest increase for some packaging materials would add an estimated sl.lm to costs.
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Bibliographic details
Press, Volume CXIV, Issue 33445, 29 January 1974, Page 22
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157Carlton rate slowed Press, Volume CXIV, Issue 33445, 29 January 1974, Page 22
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