J. E. Watson profit from several sources

Press, 22 February 1980, Page 17

J. E. Watson profit from several sources

PA Invercargillj The contribution of vari-| ous departments of J. E.| Watson and Company, Ltd,! to the profit of $174,000 fori the six months to December 31, shows the complexities of the stock and station industry, says the chairman (Mr A. F. Gilkison). The contributions to the profit increase of 14 perj cent were different from last! year’s figures, and empha-| sise the importance of a 1

I > well-balanced company, with! •(varied and efficient depart-1 • intents all contributing to thej ,! total service Watsons offers j •iits clients, he says. i Mr Gilkison endorses the) ; concern other stock and sta-i • tion companies have ex-1 i pressed over the amounts ofj finance now invested in the! !, farming community. but! •(says: “We have never re-. :|stricted our clients from} ■(borrowing for essential and] i worthwhile expenditure, and'

uthe company will make (every effort to continue to ([offer this facility.” ;i The results of trading and real estate departments were ■ I significantly higher than last ■iyear. Livestock results were •(substantially less, and re- ’ fleeted the weather condiiitions experienced this sea:!son, resulting in stock not (finishing well, and later fattening. I] The export shipment ot 11 timber to Korea proved

highly successful. “All private foresters shoulc be aware of the excellent service the company pn des and how this service contributes to growers’ returns.’’ says Mr Gilkison. Shipping business was slightly less for the halfyear. reflecting fewer vessels through the port of Bluff, but the travel department is performing well. “Even though the first six months figures are not necessarily indicative of the end results, we look forward to the future with confidence,” says Mr Gilkison.