M.S.D.-Speirs set sales record

Press, Volume CXIV, Issue 33451, 5 February 1974, Page 10

M.S.D.-Speirs set sales record

(New Zealand Press Association) WELLINGTON, February 4. For the first time sales by M.S.D.Spiers, Ltd, have exceeded ss.om for a sixmonth period the chairman (Mr O. F. Haylock) says in the report to shareholders for the six months to September 30.

The company enjoyed extremely buoyant trading conditions and sales were only limited by the availability of stock, being 37 per cent ahead of last year’s figures, Mr Haylock says. Although the level of activity within the building industry remains high, it is reasonable to assume that a level'ing off in growth will occur because of the inability of the industry to cope with the physical problems of supply and materials and the erection of houses, and also because of the limits to the money available as loans and mortages, he says. “Shortages of essential materials are becoming evident. If these can be overcome and provided loan finance is available, a continuation of good results beyond the end of the financial

year is probable” Mr Haylock says. In order to participate in the ever growing demand for panel products, the company has joined in a consortium to produce a high quality fibreboard in North Canterbury. “This project, which is among the largest ventures in the South Island, will be essentially a long term investment but the directors are confident that it will become a valuable addition to the M.S.D.-Speirs group,” says Mr Haylock.