Williams and Kettle profit falls
The group net profit of Williams and Kettle, Ltd, (unlisted) Napier-based stock and station agents, fell 49.2 per cent ($260,004) in the year to June 30. Turnover in wool, livestock, merchandise and land fell 27.5 per cent to $43.5m. The number of bales of wool sold by the company increased 826 to 79,149 bales, but earnings dropped 31.1 per cent $11.2m. The value of livestock sold at auction and privately fell 44.8 per cent to $10.7m. The company handled 1.4 m sheep and 132,676 head of cattle.
The value of land sales fell $2.7m to s3m, and include 57 urban and 19 rural sales, while sales of merchandise and produce fell a marginal $19,400 to $18.5m. The company is making rebates to shareholders at the same rates as last year, involving a total payment of $162,194. A 10 per cent dividend is again being recommended and will require $189,359.
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Press, Volume CXV, Issue 33964, 3 October 1975, Page 12
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154Williams and Kettle profit falls Press, Volume CXV, Issue 33964, 3 October 1975, Page 12
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