Wilson whiskies "win acceptance”

Press, Volume CXIV, Issue 33563, 18 June 1974, Page 23

Wilson whiskies "win acceptance”

New Zealand whiskies — Wilsons and 45 South — have won acceptance on the local market, the chairman of Wilson Distillers, Ltd, (Mr J. L. Braithwaite) said in the annual report.

“Since the first market releases of the two whiskies on

February 20, consumer reaction was favourable to the quality, brand names and packaging. “Current levels of sales prove that our whiskies are indeed winning acceptance on their own merits,” he said. Initial difficulties in supply and distribution had been overcome and distribution is: now nation-wide. “It is still too soon for a level of sales to have become: established, but the prospects: are encouraging.” he said. j Additional storage and: blending facilities at Taieri and the extension of office buildings and the bottling plant at Willowbank were undertaken during the year to February 28. A programme for future

development of the Taieri site would probably be decided by the end of this year, Mr Braithwaite said. As already reported, net profit rose from $20,527 to $38,824 giving an earning rate ■ on average shareholders’ • funds of 2.2 per cent. Shareholders’ funds totalled , $1,792,017, at balance date,

I including $1,575,000 capital, i Current assets rose from ($1,440,000 to $2,085,000. I mainly represented by stocks 'of $1,791,000. Working capital was $123,964 higher at sl.4m but the current ratio fell from 9 to 3 to 1. Term liabilities rose from $698,000 to $1,007,000.