BOS optimistic

Press, 17 December 1982, Page 12

BOS optimistic

The unaudited profit of British Office Supplies New Zealand. Ltd. for the six months ended September 30, was $141,000 after providing for taxation of $116,000— compared with $107,000 profit ($86,000 tax provision) for the corresponding period last year, the directors announced. The interim dividend remains unchanged at 3c a share. “Although the half-yearly profit represents a 32 per cent increase over the corresponding period last year it was achieved from an increased capital base and after incorporating the results of Probert Industries. Ltd. which was acquired on April 30." they said. The traditional British Office Supplies' activities ol wholesale and retail office furniture and equipment supply, printing and domestic

furniture retailing achieved sales growth in excess of 20 percent over the previous year, but increasing competitive pressures in the marketplace eroded profit margins and ultimately had an adverse effect on the profitability of these activities. During the period the old established Wellington furniture retailer, Hundleys Interiors, Ltd, was closed but the name has been retained in association with our recently acquired Wellington furniture retailer, Sheraton House (Wellington). Ltd. The trading results of the major acquisition. Probert Industries, Ltd. continue to exceed budget and the outlook for this subsidiary is most satisfactory. Trading conditions in the group’s traditional activities remain difficult and a number, of steps have been taken to maintain profitability in these areas,, the directors said.