Coal and Energy
The directors of Coal and Energy New Zealand, Ltd, have approved the allotment of the 10,000,000 ordinary shares recently offered to the public. They said in a statement that the future profitability of the company will depend on the time taken to fully develop the company’s coal reserves at each mine to service available customers.
Some comment has recently been made regarding future profitability. “Estimates made by the company indicate that a modest profit result will be achieved in 1982 and that a satisfactory level of profitability should be attained in the 1983 financial year.’* The company has no plans to enter the export market for coal, they said.
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Press, 14 November 1981, Page 19
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112Coal and Energy Press, 14 November 1981, Page 19
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