Smelter benefits Naylor Love

Press, 20 November 1982, Page 19

Smelter benefits Naylor Love

The finalising of some contracts at the Tiwai Point aluminium smelter, helped Naylor Love Construction, Ltd, to sharply increase its profit in the six months to September 30, the directors said yesterday. The unaudited profit rose from $57,960 to $347,693, after providing $257,749 more for tax at $287,311. Included •in last year’s result was an extraordinary profit of $2,457,000. The work-at Tiwai Point, which was started in June, 1981, would finish before the

end of 1982 and had been main contributor to turnover during the period. Some contracts remained to be finalised before the end of the financial year which would result in an improved profit for the final: six months. However, as mentioned in recent annual reports, the building activity in the areas serviced by the company remained low, and competitive. The present level of profits was not expected to continue beyond the current year, the directors said.