M. O’Brien in good heart

Press, 14 June 1978, Page 25

M. O’Brien in good heart

In light of recent comments about the state of the footwear industry after factory closings, shorter working weeks, and redundancies, and especially reports about a reduction in profitability — the chairman of M. O’Brien and Company, Ltd (Mr G. W. Hunt) says the company has managed to ride out the storm withiout serious effects. The results for the nine months of trading to March 31, helped by the taxation benefit on opening stocks, was slightly better than the previous year, and sales since then indicated a satisfactory result for the year.

Under the circumstances a result approaching that of the previous year would be an achievement, he said.

Liquidity had improved, and the forward order position had given the management some confidence.

The company had recently negotiated with Ro-Search

(Inc., of the United States) to manufacture under licence in New Zealand a process which was already claiming a big share of the American market.

Along with further development of specialist sporting footwear in the Adidas summer range of cricket, bowls and softball wear, the company had recently launched a new styled range of Paraflex and Safetyflex: working, tramping and com-: bat footwear, and recently! sold 1300 pairs of combat boots to the Fiji Army.