A.C.I. shares in $10.6m loss
NZPA Sydney Australian Consolidated Industries, Ltd, says in its annual report that Pacific Can, Ltd, incurred an abnormal loss of sAustlo.6m in 'the year to March 31.
A.C.l.’s share of Pacific Can’s losses for the year was $5.4m, and the subsidiary, now wholly-owned, has continued trading at a loss.
I The loss arose through the [development of two-piece [canmaking.
. The accounts also show that the group’s working-capital increased from s4lm to ss9m. The value of stocks was reduced from sll9m to sloBm. Net bank overdrafts fell [from s27m to sl7m, and from sB4m to s76m.
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Press, 15 July 1976, Page 20
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100A.C.I. shares in $10.6m loss Press, 15 July 1976, Page 20
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