Hauraki sales
PA Auckland Hauraki Enterprises, Ltd, has not been meeting its sales budget, the chairman .(Mr M. Friedlander) told shareholders at the annual meeting. Mr Friedlander said Hauraki’s decline in profit (net earnings were down 30 per cent to $488,867 for its March year) could be related directly to a downturn in sales.
Steps were being taken to correct this, he said.
Although the ratings results were disappointing, he said that the station continued as No. 1 with those between 10 and 39 years of age.
He said that the advent of FM radio would not affect Hauraki’s profits in the short term.
The' FM stations would have to win their way in a highly competitive Auckland commercial market, he said.
Hauraki has appointed a new general manager, Mr John McCready, who will
have responsibility for the radio station. A shareholder criticised the company for failing to live up to promises over the past few years.
He said that the company had lost more than $4 million in market capitalisation during, the past year.
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Press, 19 August 1982, Page 30
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175Hauraki sales Press, 19 August 1982, Page 30
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