Arnold and Wright sees steady profit

Press, 28 February 1981, Page 18

Arnold and Wright sees steady profit

The unaudited groan nei profit of Arnold and Wright, Ltd. fell 12.5 per cent tc $119,000 in the six months to October 31, the directors reported yesterday. It was after providing $34,000 less for tax at $66,000. Export sales more than doubled from $58,000 to $142,000. At the end of Januan sales for the group were 17 per cent higher than the' were at the same time last ' year. “We expect turnovei to continue at this level for the period February-April,” the directors say.

“Rising costs plus inflation continue to reduce the profitability of our effort so that we are, at present marginally less profitable than we were at the same

time last year. However as this is election year, we are confident that business will remain quite buoyant throughout this financial year and beyond. “Subject to unforseen circumstances, which include the possibility of industrial disruptions, we expect the profit of the group to b< roughly comparable with the figure achieved last year” they say.