"Double F” retreats
A 22.3 per cent fall in fertiliser sales resulted in the New Zealand • Farmers’ Fertiliser Company, Ltd, earning an 11:6 per cent lower $2,617,546 in the six months to November 30. The directors said that the fall in sales was partially compensated by an improved turnover in chemicals and a better performance from the re-organised health' and science division. If these improvements continued, a satisfactory profit should be earned in the full year.
The interim dividend is steady at 6 per cent. Last year, the company paid a 10 per cent final to raise the annual rate from 15 per'cent to 16 per cent. Extraordinary items (exchange losses and capital gains) reduced the latest, trading profit to $2,581',475, that is 4.6 per cent .lower than the previous corresponding figure. Profit in the year to May 31 was an 11.9 per cent higher $5,945,828.
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Press, 13 February 1981, Page 8
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146"Double F” retreats Press, 13 February 1981, Page 8
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