Chch Gas recovered
The Christchurch Gas.l Coal, and Coke Company.! Ltd — which made a loss of ; 893.927 last year — has come back into the black. j The company is now trad-' ing profitably, and can con- 1 template a return to the! regular payment of divi-| dends. the chairman (Mr H. W. Revell) says. “In the annual report of| March 31. 1976. the board advised that financial plans for the new year provide for< the full recovery of all anticipated costs, and the achievement of profits,”! he says. Mr Revell confirms that; the company is now achiev-
ling these objectives and has I also benefited substantially >from the successful sales of I coke and breeze to export -markets. With respect to the pre-i jvious year’s trading loss Mr I j Revell says that the com-! Ipany’s application to the' Government for some amelioration of this amount has! been successful. “The price freeze announced this week should have no detrimental effect ’on the company’s trading for the balance of the year, unless there are unforeseen changes in the system of subsidies that the industry; Traditionally receives," Mr Revell says.
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Press, 24 August 1976, Page 18
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188Chch Gas recovered Press, 24 August 1976, Page 18
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