Earnings lower
Challenge Corporation, Ltd, results for the first quarter of its present financial year are significantly down on the same period of last year, the chairman, (Mr R. R. Trotter) told the annual meeting. ‘‘Undoubtedly, the current economic . situation will adversely affect profitability and will inhibit our ability to provide the assistance we would wish to the farming community,” l he said. “We accept this as a challenge — and as an opportunity to review all our operations and to sharpen our responses so that we remain ready to take advantage of the upturn that sooner or later will come.” Challenge, the country’s largest stock and station agency, earned net profits for the year to June 30 of $9,333,000. This was an 8.6 per cent rise after a first half year profit increase of 63 per cent.
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Bibliographic details
Press, Volume CXIV, Issue 33680, 1 November 1974, Page 10
Word Count
137Earnings lower Press, Volume CXIV, Issue 33680, 1 November 1974, Page 10
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