W. Horton ahead but climate worsens

Press, 20 July 1979, Page 17

W. Horton ahead but climate worsens

PA " T T Auckland i The “New Zealand Heriald,” and all other departments of Wilson and Horton, Ltd, showed improved results in the first-quarter of the year, said the chairman (Mr S. C. Hay) at the annual meeting. .In the present economic climate it could hardly be expected that this level of profitability would continue throughout the year, Mr Hay said. However, it was expected that it would be possible to recommend the maintenance of the 18 per cent dividend on the capital increased by the one-for-five bonus issue. Mr Hay referred to the continued circulation growth of the “Hearald” in city and provincial areas. Urban cir-

iculation alone exceeded the ' total circulation of any other New Zealand daily newspaper, he said. He also expressed satisfaction with advertising volume. The commercial printing department, Web-Print, and Stanley Newcombe, Ltd, raised their trading profit more than 35 per cent. High liquidity, helped by a much-improved debtor control, was helping to finance development at Ellerslie, where a $600,000 press hall was under construction as part of a major rebuilding programme. Two web-offset printing machines, and a third fourcolour machine costing S2M will be installed early next year, leaving space for another press to be bought later.

Research by the New Zealland Newspaper Advertising | Bureau, showed that for practically all major consumer products and services, a newspaper advertisement would reach potential customers more effectively, more economically, and with longer lasting durability than in any other medium, the managing director (Mr H. M. Horton) told the meeting. Housewives, when preparing to shop for food and groceries, found newspaper advertisements two and a half times more helpful than circulars or local newspapers, six times more helpful than television advertisements, and 11 times more helpful than radio advertisements, he said.