Commercial Loss expected by N.C.F. Kaiapoi

Press, 15 June 1978, Page 14

Commercial Loss expected by N.C.F. Kaiapoi

[I N.C.F. Kaiapoi, Ltd, will i not pay an interim dividend ''for the six months to March ' 31, because a loss is expected for the full year, says J' the chairman (.Mr I. A. Hart) I in the half-yearly report to > shareholders. ' After poor conditions in H early spring and the inconHvenience of a tradesmen’s dispute the killing season did not open until November '[lo, he says. " “Consequently, the late start brought about a heavy booking of lambs for killing, and coupled with drought conditions average weights were considerably lower. “The implementation of ; further procedures to meet hygiene requirements slowed processing, and full production was not achieved until the first week of December.

“Negotiations with the Meat Workers Union for an increase in the daily quota were finalised, and the throughput was increased by ' 700 to 6700 a day from March 16. “At this date large numibers of sheep were being 1 presented for killing and I with the difficulties brought about by the skinning of heads for inspection the kill rate was affected and it was regrettable that the new tally w’as achieved only on a few occasions,” he says. “Sine'* the end of March further industrial trouble has reduced production, but it. is

[expected that the final lamb kill will be similar to last year. “If the expected numbers of sheep are forthcoming a 10 per cent increase in the kill is expected, making an over-all increase of about 3 per cent,” Mr Hart says. Larger than normal stocks of fancy meats are on hand because of shipping delays. There has been an improvement in prices of lamb kidneys and livers, but other items and casing prices are similar to last year. Revenue from rendering materials will be lower re-

fleeting lower meal prices and yields. As' advised on March 15, it is expected that a formal offer will be made from the New Zealand Meat Producers Board. No further information is available at the time of writing the report, Mr Hart says. The lamb kill to March 31 was up 5.2 per cent to 453,811, but the sheep kill was down 67.3 per cent to 29,263. The average , weight of lamb dropped from 13.8 kg to 12.8 kg, and for sheep from 22.2 kg to 18.7 kg.