Tannery profit expected

Press, Volume CXV, Issue 33917, 9 August 1975, Page 19

Tannery profit expected

W. Sutherland and Co, Ltd. expects its tannery to (come into profit later this i year. The group result for April/June is “$20,000 ahead (of budget, which is a good I trend,” the chairman (Mr A. |G. Wilson) said at the an--1 nual meeting, a report from .the N.Z. Stock Exchange 1 Association says. “For the three months ending June 30 the tannery did not make budget but it is still expected to pick this up as the year progresses. “The order position for the domestic market is very ( good, and the drive for (exports is bringing most satI isfactory results. “The optical division profit for the April/June quar(ter is well in excess of budget. I “The subsidary Arthur I Cocks and Company (N.Z.) (Ltd, has been affected by I the sales tax imposed in the ■ last Budget, causing a slowI ing of sales,” Mr Wilson said. Custom seeks S7()m Custom Credit Corporation, Ltd, Australian finan(cier, is seeking s7om in its (latest debenture issue,. The I highest rate being offered is (12 per cent for three years (or more. Cumulative debetives for six to 10 years (carry 10 per cent, and unse- ; cured notes 11 per cent for (12 months. The company re- ■ tains the right to vary interjest rates. UNIT TRUSTS Buy Sell