Donald Reid expects rise
Donald Reid - Otago Farmers, Ltd reports that for the half-year to December 31 the unaudited profit before rebate and tax was $306,000, compared with a profit of $150,000 in the same period of last year.
Otago suffered a severe drought in the Spring, Summer and Autumn of 1975/76. The effect of this is now being reflected in a substantial reduction in wool weights, considerably lower lambing percentages and a generally lower stocking rate. This will affect profits in the second half of the year, but it is expected that profits for the full year will be slightly ahead of last year.
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Press, 22 February 1977, Page 18
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105Donald Reid expects rise Press, 22 February 1977, Page 18
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