Lusteroid expects difficult year
The first quarter of Luste-, roid Holdings (NZ) Ltd’s, 1 financial year has been marked by a deepening of the general recession that is affecting the manufacturing sector, said the chairman (Sir James Fletcher) at the annual meeting. But volume sales for the first quarter were running at about the same level as last year, Sir James said, and destocking of raw materials and finished products was j proceeding with consequent improvements in liquidity.
“The year looks like being a difficult one because of the depressed state of the New Zealand economy,” he said, “however the world recession is expected to lead later in the year to a slowing of raw material cost increases which will have the beneficial effect of steadying inflation in the industry.” Lusteroid manufactures and markets surface coatings (paints and lacquers) and specialises in the industrial and automotive sectors of that market.
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Press, 5 August 1980, Page 21
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150Lusteroid expects difficult year Press, 5 August 1980, Page 21
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