Sanford hopeful

Press, 7 December 1981, Page 17

Sanford hopeful

PA Auckland The Auckland-based fishing and fish processing company, Sanford, Ltd, could enter the deep water trawling fishery when the Government had better assessed the resource and had a firm policy on how the resource was to be exploited, said the chairman. Mr W. D. Goodfellow. in the annual report. Sanford’s managing director. Mr N. L. Mills, said applications to import two

second-hand deep-sea trawlers were turned down pending the results of a Government study. The company trusted the decision would be made in favour of vessels manned by New Zealanders and that New Zealand vessels, both inshore and deep water, would not be regulated, preventing movements or the methods changes necessary to be viable. Two new pair trawlers are being added to

the fleet this year as replacements. Mr Goodfellow said the , cool store subsidiary was s being expanded from an existing 4400-tonne capacity to 11,400 tonnes. As reported, Sanford is raising its dividend from 18 per cent to 20 per cent with an 11 per cent tax-free final dividend. The net profit in the year to August 31 was 17.9 per cent higher at ’ $1,163,806. ,