T. J. Edmonds trading well

Press, 14 August 1976, Page 16

T. J. Edmonds trading well

Sales of T. J. Edmonds, Ltd, have shown encouraging increases in the first four months of the year, the chairman (Mr C. W. Evans) told the annual meeting.

This applied to both the domestic and export markets, and the company is looking forward to another good year’s trading. “There are, of course, unpredictable happenings which might affect us prejudicially — such as further price freezes with delayed recoveries on costs, and shipping difficulties,” Mr Evans said. “On the other hand I think we are entitled to expect considerable benefits from the expansion of odr markets, as it is expected that spending power will tend to sustain the demand for conventional foods in the current period.” The substantial increase in exports, with its accompanying increases in taxation benefits, was mainly responsible for the good profit performance in the latest year. Sales during the year rose 50 per cent. But export markets were not being developed at the expense of the domestic market, he said. The directors and management had been most con-

scious of the fact that the basic strength of the company depended on the consolidation and expansion of the New Zealand market and the presentation of its traditional products. The company had therefore broadened its product range and at the same time been selective in the lines which were being produced. The main increase in activity during the past year came not from new products, but by exploiting opportunities in established products, Mr Evans said. Sales of traditional products increased more than 20 per cent in volume and the El Pico range increased 53 per cent in volume. Strong increases were also achieved in the new goods services division. In line with this emphasis on local sales and efficiency, the company’s main manufacturing plant in Christchurch has been improved with a considerable amount of new equipment, the main item being a high speed packaging machine costing more than $lOO,OOO.