Commercial Email profit falls

Press, 7 September 1976, Page 23

Commercial Email profit falls

NZPA Sydney i Continuing adverse trading in consumer products, competition from imports and industrial problems, caused| the group net profit of Email, Ltd, to fall 4.1 per cent to sAust422.ooo in the sear to June 30. the direct-; ors say in a preliminary report . The profit of Email fell 30.5 per cent to 52.9 M in the year to December 31. As previously advised, trading in the three months io March 3! disclosed that total group sales and profits yore ahead of those for the

;previous corresponding three; ■months, the directors say. “This has continued for! the industrial group's prodlucts — which include met-} |ering, low voltage switch-} [gear, elements and tubing —, and the outlook for the re-j ■ mainder of 1976 is satisfac-j tory. I “Similarly, the forward, ‘position on container refrig-] eration, air conditioning and. ; commercial refrigeration is! [buoyant, reflecting a sub-: istantial improvement in. [orders and trading margins.” ; The profit decline also, reflects the delayed completion of plans for the ra-

(tionalisation of products be-' it ween the Orange and jßankstown plant, which has resulted in higher costs related to the transfer and •}some under-utilisation of the •[Bankstown plant since its [acquisition, immediately [prior to the market decline during 1974. I; “Nevertheless, market I shares in consumer prodl.ucts have been well held, ■ they say. ■i With planned completion [of rationalisation by the end iof the year, both plants are i.expected to be well-organ- - ised to take advantage of any market upturn.