J. E. Watson profit ahead

Press, 24 February 1978, Page 13

J. E. Watson profit ahead

J. E. Watson and Company, increased pre-tax profit 15 per cent to $135,600 in the six months to pecember 31. “The result reflects the enthusiastic team work that; has enabled the company to

I trade successiully in a sev-i iere economic climate,” the; i report says. “This further growth in profitability demonstrates that the company has i proved an exception to the [general experience of those loperating in their particular sphere under today’s severe [economic conditions. ! "The major portion of the [increase over last year has I been a direct result of the company’s continued diversification into the fields directly and indirectly associated with the rural industry. “The stock and station related aspects of the company’s operations were less spectacular, but improved on the 1977 levels as a consequence of increased business.

“The company, which; turned public in 1967, has [experienced its most dramatic development over the [ last four years, with profit increases in the excess of 50 [ per cent in the past two [years through new manageiment techniques and diversification into forestry, exporting, retail and [extended advisory services. “Close attention will be i paid to the next six months [where continued growth is expected. However, shareholders are reminded that as the bulk of the company’s income is received in the second half of the year, the company’s final results will be markedly affected by the industrial and market conditions prevailing in that period,” the directors say.