Loss for Regina
Regina confections, Ltd, the Oamaru-based confectionery and investment group, incurred a total net loss of $23,000 in the year to March 31, compared with a loss of $93,000 in the previous corresponding period, the directors announced in a preliminary report. Included in the result were equity profits of $22,500 ($12,500 previously) from Allens and Regina, Ltd, and an extraordinary profit of $9006 (nil) from the sale of property. The company had reached
profitable trading in the final months of the financial year, which had reduced the trading deficit of $67,111 reported in the first half, they said. Because of the losses incurred in the last two years no dividend would be recommended, but it was hoped to resume dividend payments in the 1983-84 year as demand for Regina’s products continued to increase. Group sales rose 15 per cent to $3,140,000.
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Press, 28 May 1983, Page 20
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143Loss for Regina Press, 28 May 1983, Page 20
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