Ten-year plan for NCF-Kaiapoi

Press, 27 November 1982, Page 18

Ten-year plan for NCF-Kaiapoi

A corporate plan is being prepared by N.C.F. Kaiapoi, Ltd, to meet the expected production demands in the next 10 years, said the chairman, Mr E. W. Turrell, in the annual report. The company bought the 3.36 ha of land alongside the works holding paddocks, which were previously leased from the Kaiapoi Borough Council. The 1982-83 killing season had begun on a similar note to last year, except for a greater demand for sheep killing. The season started on October 11, and a second chain began work on November 2, and by the first week of this month the kill was 10,000 head up on last year Mr Turrell said. “Although the number of lambs born are expected to be lower this year the losses during lambing were minimal and the company is confident that with the advantage of the additional 800 per day during all of the peak killing period a kill of one million will be achieved

this season.” A change in Government policy on the supplementary minimum prices to pool operators made the pools system impractical, he said. Because New Zealand's inflation rate had been twice that of its major trading partners, the dollar had become overvalued, creating the need for the S.M.P. scheme. “A very disturbing result is the position the private enterprise exporters are now placed in. “I am very disappointed that any reduction in individual plant processing charges will not now flow back to -the suppliers,” Mr Turrell said. The group net profit rose 14.6 per cent to $1,267,020 in the year to September 30, on total revenue 14.4 per cent higher at $13,867,284. The profit was after providing $18,769 more for tax at $55,861, and $122,155 more for depreciation at $345,241. Shareholders’ funds rose $1,276,020 to $7,491,701.