Buoyant trading by Mair

Press, 26 February 1977, Page 17

Buoyant trading by Mair

| The turnover of Mair and:’ ) Company, Ltd, has shown al* ’significant increase in the 15 , iper cent range for the first; (quarter, with profit margins (considerably ahead of the.: (previous corresponding quar-j Iter, the chairman (.Mr P. F.i I Polson) told the annual! (meeting yesterday. But he warned shareholders of the risks inherent in international trading, and the difficulty of forecasting too far ahead. “So we are i off to a good start, but as in a cricket match, only the final score counts,” Mr Polson said. “Current prices for New Zealand wool are giving sat- I isfactory returns to most farmers, but the recent easing in market prices could well reflect a deterioration of confidence in the economies of Western Europe. Any major upturn in wool prices is probably dependent! on revival of world econ-1 omic confidence, which if it] transpires, we would expect! (to be generated from the! ’U.S.A. “Hide and pelt markets are;' I both very strong, reflecting) “Ithe increasing interest and;’ (demand world-wide for! ‘leather. Travelling overseas, . lone is conscious of the in-]] I creasing numbers of people t I wearing leather garments, : ' and this is in contrast to the < ’New Zealand fashion scene.” i I Mr Polson said that all ] ’ the group’s manufacturing 1<

interests were busy, and that '■ there was steady expansion. ) He told the meeting that’ the company was establish-; jing a new company in Auck- ; I land in partnership with R ’ (and W. Hellaby, Ltd, which i (would take over Mair’s ’present bide store business! in Onehunga. With continluity of hide supplies the; new company will double' the size of the present fac-; tory and embark on “wet! blueing” of hides for world export market. “Mair and Hellabys have ; traded together for some] forty years, and the estab-j lishment of a joint company to process for export a New! Zealand raw material, is! welcomed by both com-1 panies. “In this year’s annual re-j port I made reference to the; problems we have encOun-i tered in obtaining freight; concessions for high density | i packed wool bales. In Aus-j Itralia, where at present to) |our knowledge there is only, :one high density wool press; I installation, shipping com-] ipanies have granted freight! (concessions about 20 per;, ’cent lower than conventional; (wool freight. i! ! “Total cost savings in], 'Australia with all wool < packed in high density balesi, are estimated at S3SM. The; shipping companies in thatj ( country have encouraged the!, installation of high density’; presses realising that in this]; day of high freight and fuel (

costs, it is in everybody’s interests, the producers, the shippers, the shipping lines, and the national interest, to utilise container shipment methods to the maximum advantage. “We do not understand why the Australian encouragement for high density wool package is denied here in New Zealand. It seems that some of the overseas shipping interests serving New Zealand place their interests first, and New Zealand second, whereas in Australia those responsibilities are discharged more fairly,” said Mr Polson.