Carbonic Ice busy

Press, 23 November 1979, Page 20

Carbonic Ice busy

Carbonic Ice, Ltd, remains I . very busy, but net profit for] ! the year to August 31 was' I down 21 per cent at ! $264,795, which includes net! export tax credits of $80,554 ($56,235). !< Carbonic Industries, Ltd, the marketing company for! machinery exports, had had another successful year. Although the net profit is $73,000 less than last year’s : record profit, it is still well ahead of the level before 1978. The company is experiencing keen competition in many areas, and profit I margins obtained last year were not available to the i same extent. )

! Exports included sales to! Guam, Switzerland, United i Arab Emirates, Pakistan, I India, Zambia, the United: States, and Thailand, including several multiple : orders. Prospects for the current year are very bright. I Production is committed well into 1980, and tenders in course of negotiation are still at a high level. As expected, the downturn in the local building industry has had a detrimental i effect on fire extinguisher sales, with a resultant reduction in profit. Kenny Industries, Ltd. which also serves the local : market as a manufacturer;

[ and distributor of pneumatic 1 equipment, completed its ! first year in the group on : July 31. Results were much as anticipated, with sales up about 17 per cent. : The new range of pneuI matic cylinders, introduced I during the current year, is proving a worthwhile addition to the range of products, and it is confidently expected that this company will make a contribution to the group’s result in the current year. A final dividend of 8 per cent (8c a share) is payable lon December 14, making an unchanged total dividend for the year of 14 per cent (14c a share).