Autocrat looks to CER

Press, 3 June 1982, Page 20

Autocrat looks to CER

Proposed closer economic relations with Australia, although not expected to affect consumer electronics, will make a mark on the New Zealand whiteware industry,, Mr R. H. Walker, chairman of Autocrat Sanyo Holdings (N.Z.), Ltd, tells shareholders in the 1982 annual report. He says that although indications are that long-term protection will be given to

New Zealand electric range manufacturers, the same time span may not apply to laundry equipment, dishwashers, and refrigeration. •

“We have accepted the

inevitability of CER as a prime thrust of Government philosophy and planning, and are deeply involved in strategically positioning the company to take advantage of the excellent opportunities that could be presented to us,” said Mr. Walker. However, he also sounded a warning:

“We reinforce the message being spelled out by exporting companies that a company such as ours would be unable to commit the present effort into developing new markets without assistance."

Company trading results announced last month showed significant growth with sales, revenue up 81 per cent and consolidated profit before extraordinary items up 58 per cent to $2,969,000, over the previous year.

The result includes 14 months trading by the wholly-owned ' subsidiary, Champion Appliances, Ltd, Dunedin, which was acquired in April, 1981. “This has proven to be a resounding success,” said Mr Walker.

“Our- ability to offer dealers electric ranges dnd equipment complementary to our electronic products has been weir received.”

Sales are currently ahead of pre-acquisition in both product categories and substantial forward orders are held. .

The report acknowledges the part played by all staff in the company’s growth. ■ On exporting, Mr Walker says that for some years now New Zealand has experienced zero population growth and no significant increases are forecast.

“The future and growth of our company could be affected and like the nation we may require' an expanding level of profitable exports.

"We are currently a relatively small exporter. However, with our commitment to whiteware manufacture and the opportunities of CER, we have allocated resources in pursuit of offshore business.

" "The most important factor in our ongoing research and development of new markets and new products is' a continuing level of support via incentives.

The company’s rental television division continued to grow with record new placements during the year. Last year's restructuring of the business machine division- was also fulfilling the promise it,.held, Mr Walker states. !"■■■

He concludes by saying new product development should ensure steady growth and that a buoyant economy is predicted 1 throughout* this next financial year. ,