Good half-year for N.Z.F.F.

Press, Volume CXV, Issue 34031, 20 December 1975, Page 18

Good half-year for N.Z.F.F.

The unaudited net profit of New Zealand Farmers; Fertiliser Company, Ltd, for the half year to November 30 rose 11.3 per cent to $11,260,066 compared with the same period of last year, the directors report. A steady interim ordinary! dividend of 5 per cent is payable on January 27 ex dividend January 1.

Sales of all products were up 4.3 per cent on last year, and in view of the present trend, the directors are confident that sales for the full year will be at least equal to the previous year. Supplies of raw materials and fertilisers are now plentiful world-wide, and the company is buying some products at prices which have resulted in the effects of devaluation being comjpletely offset. ! Work on the new sulphuric acid plant at the Mor- ! rinsville works is behind I schedule, but is still due for’ ! completion in September 11976. The plant at other 'works is being constantly renewed and upgraded in order to take advantage of; any up-swing in demand in ■ the future. Revenue from diversified ’interests continues to make a significant contribution to profit, and the directors are ;of the opinion that the com- ; pany is in a sound position i and despite present econ -

omic difficulties should be able to maintain profit levels.