NZFP optimistic
PA Auckland N.Z. Forest Products, Ltd, said yesterday that it is optimistic that a sustained economic recovery is under way which should produce a higher net profit than last year. The retiring chairman,
Mr L. N. Ross, told the annual meeting in Auckland that the present year had started well for the company. Profit in the first four months to July was running 16 per cent ahead of last year and sales were up 5 per cent, he said.
“Pulp is now in stronger demand and it has been possible to negotiate price increases to the order of 15 per cent for deliveries to be made in the third and fourth quarters of the 1983 calendar year.” . Mr Ross said a United States recovery had become a reality and there was evidence that the benefits were being felt in other countries.
“Although the improvement is not spectacular, there are good reasons to believe that it will be sustained — which is far better.”
He said that prices for paper and paperboards had been slower to react. Even so, some small price rises had been obtained.
For export pulp and paper further improvement in demand and in prices could now be expected.
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Press, 2 September 1983, Page 8
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202NZFP optimistic Press, 2 September 1983, Page 8
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