Brambles B. loses $691,895
Brambles Burnett, SSI per cent owned by Mogal Corporation, Ltd, made an equity-based- trading loss of $691,895 in the year to June 30 compared with a profit of $659,065 in the previous year.
The new chairman (Mr P. W. Grayburn) says in the annual report that this was in spite of a 9 per cent increase in turnover to $42.9 million. The main reason for the turnabout was the poor performance of the freight forwarding division, he said. Mr Graybum says that the Mogal management is paying special attention to this division. Other trading divisions are trading profitably/ with the exception of the Cameron companies, in Wellington. These were acquired immediately before the Mogal bid for the company.
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Press, 22 October 1980, Page 25
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122Brambles B. loses $691,895 Press, 22 October 1980, Page 25
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