NEWS IN BRIEF

Press, Volume CXV, Issue 33929, 23 August 1975, Page 18

NEWS IN BRIEF

Trading difficult

Trading since balance day has been satisfactory, but increasingly difficult, the directors of .Progressive Enterprises, Ltd, report. “A continuing winddown in economic activity means that we must work harder to maintain a satisfactory share of a reducing consumer demand,” they say. “The rate of growth is slowing, but we still anticipate satisfactory progress for the financial year." Dividend approved The Equitable Building and Investment Company of Wellington, Ltd, reports that the Inland Revenue Department has approved the payment of a final dividend at 5 per cent, from the capital reserve, should this meet with shareholders’ approval. The dividends will be posted on September 5. Comalco price rise Comalco, Ltd, has been granted an increase of 5.48 c per lb in the price of primary metal by the Department of Trade and Industry, because of the higher cost of raw materials required to smelt aluminium at Bluff. The new base price of 36.55 c per lb effective from Monday, August 25, is still lower than the Alcan world price of 39 US cents per lb C.I.F. main ports. Giant div. tax-free Giant Industries, Ltd, now plans to pay a dividend of 5c a share, for the year to March 31 from realised capital gains, making it tax-free in the hands of shareholders. The dividend is payable on March 26. Sales increase Foodstuffs (Auckland), Ltd, lifted net sales by $11.5m to $89.7m in the year to March 31. The wholesale company is owned co-oper-atively by Four Square Grocers. ' New World Supermarkets and Cut Price Stores. Retail sales of retail members of the organisation exceeded $149.5 million, states the annual company report. The net profit of the subsidiary, The National Trading Company of New Zealand, Ltd, was $336,137.

Aluminium prod.

The International Primary Aluminium Institute reports that its members produced 799,000 tonnes of primary aluminium in July compared with 776,000 tonnes in June, and 933,000 tonnes in July 1974. The Institute covers all primary aluminium producers except Eastern Europe, Turkey, Yugoslavia, the U.S.S.R., and China. Kanieri Gold

The Kanieri gold dredge recovered 346 ounces of gold for the half-month to August 15, Australasian Mining and Oil Investments, Ltd, reports. The dredge worked 281 hours and moved 170,000 yards of spoil.