Donaghys predicts growth
Donaghys Industries is poised to reap the benefits of its recent acquisitions and capital expenditure, the chairman, Mr R. W. M. Greenslade, told the annual meeting yesteray. The board was confident that continuing investment strategy and export-oriented policies would, given moderate economic growth, result in very much better results in the years to come, he said. Mr Greenslade said Stafix, of Invercargill, and Plix Products, of Hastings, had been bought outright, plus 40 per cent of Ropes Fiji, the Christchurch cold store had been extended by a third, and a new extruder plant had been built at the Dunedin factory. The substantial investment programme embarked on resulted in a depreciation provision of $1,393,000, ($751,000) an increase of 85 per cent. After-tax profit was $3,077,000 compared with $3,026,000 in 1982. Because of investment allowances and export incentives, taxes represented 31 per cent of pre-tax profit compared with 37 per cent .the previous year.
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Press, 27 August 1983, Page 22
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155Donaghys predicts growth Press, 27 August 1983, Page 22
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