FTC 13p.c. ahead
PA . .. Auckland Reduced consumer , spending in August and September, and the costs of expanding into the, South Island, were reflected in the half-yearly result of The Farmers Trading Company, Ltd, the directors said yesterday. The group net profit rose 12.8 per cent to $5,168,415 and was achieved on sales 24.3 per cent higher at $123,207,215. The sales include two months trading of the 13 stores acquired from The New Zealand Farmers Co-operative Association of Canterbury, Ltd, and Haywrights earlier in' the year. The. sales increase for the half-year, excluding revenues from the new South Island stores, was 16.1 per cent, the company said. > All costs related to the acquisition of the stores were absorbed in the six months to September 30.
The profit was after providing $84,000 to $3,134,000 for tax and an increase of $1,034,665 ($1,370,687) for deferred profits. A steady interim dividend of 5c a share (10 per cent) has been declared, payable on January 20 ex dividend on December 22.
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Press, 26 November 1982, Page 10
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166FTC 13p.c. ahead Press, 26 November 1982, Page 10
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