Atlas poultry comes to profitability

Press, Volume CXV, Issue 33995, 8 November 1975, Page 21

Atlas poultry comes to profitability

The poultry operation of Atlas Majestic Industries, Ltd, moved into profit from the beginning of October, the chairman, (Mr C. A. Pearson) says in reporting the first-half result to September 30.

Unaudited group profit is down 24.1 per cent at $205,000 for the period; the foot! division loss was $250,000 previously $130,000.

Of the consumer durable division — in which profit is down from $350,000 to $242,000 — the chairman says, sales and profit of Majestic products increased, and forward orders were maintained at a high level. “Atlas appliances recorded increased sales, and a trading loss. The latter was greater than anticipated, as in addition to preparing for a $3 million a year increase in exports and the restructuring of senior management, added costs brought about by devaluation could not be passed on by way of increased prices.” Service income will con-

Unite to improve, says Mr Pearson, and should materially increase when the $500,000 investment in Transvision Holdings, Ltd, becomes fully revenueproducing in two or three years.

Profit in the property division was up from $36,000 to $137,000, and that in the service division up from $14,000 to $76,000. In view of the improved poultry results, favourable trends in other activities, and a satisfactory cash position, says Mr Pearson, a steady 3.75 c a share (7.5 per cent) interim dividend has been declared, payable October 28. Mr Pearson says that prospects were for a result as good as, and hopefully better than, in th? past year.