CLAUDE NEON SEES PROFIT

Press, Volume CXIV, Issue 33514, 20 April 1974, Page 17

CLAUDE NEON SEES PROFIT

CV.Z. Press Association) AUCKLAND. The directors of Claude Neon Lights of N.Z., Ltd, expect that the company will return to profitability in the! current year, in spite of continuing problems with raw-i material supplies. Electricity restrictions could have adverse effects, on the company’s illumi-nated-signs activity, the chairman (Mr J. Hoekman), says in the annual report. Signs continued to be< profitable, but the power restrictions could seriously affect sales if continued for Tong. The firm had made representations to the Government for a variation in the restrictions, without success. The results for the year to December 31 were affected by a fire in February which almost completely destroyed the Auckland factory and commercial store. The merger of Beacon and Claude Neon manufacturing activities was completed by the beginning of this year. The accounts confirm the loss at $81,450. This was after providing $11,849 less for depreciation at $120,125. 'No dividend was payable. Shareholders’ funds were .8307,465 higher at $2,612,727 including steady capital of $1,140,000. The asset revaluation reserve was increased ,$370,626 to $828,874 Workling capital was $676,469.