Selby looks at exporting

Press, 9 May 1981, Page 20

Selby looks at exporting

' A Auckland Improvements in output by Selby Shoe Company, Ltd. has been sufficient to justify an initial investigation into the company's export potential. the company's chairman (Mr D. A. Schnauer) savs in the annual report. The improved output is the result "of investigation into production methods and Mr Schnauer says the company can look forward to a reasonably buoyant future despite industry problems which have resulted from "patchy" sales over recent months. ’

After a long period of price increases for all leathers Mr Schnauer notes that the present outlook appears more stable, particularly in relation to lightweight calf. “A significant increase in stocks resulted from increases in finished goods before delivery, from the start of the present trading year," he said.

“This change in production timing was instigated in order to fill more accurately seasonal requirements.’’ As reported, the company

increased consolidated taxpaid trading profit 16.5 per cent to $255,750 for the year to January 31. Group sales increased 11.1 per cent but the company did not disclose the dollar amount, a point noted in the auditor's report. Group salaries and wages for the year increased about $250,000 to almost $1.5 million. The consolidated balance sheet shows current assets up more than $200,000 to $1,129,234. while fixed assets rose from $678,388 in 1980 to $831,740. Current liabilites rose from $270,408 to $301,571. Shareholders' funds increased $300,000 to $1,546,316; stocks jumped from $541,020 to $925,403.