Wormaid confident

Press, 27 September 1983, Page 20

Wormaid confident

PA Auckland Wormaid International N.Z., Ltd, management is confident that turnover and earnings will be maintained during the current half and improve after that, the company’s managing director, Mr William Jarvie, says in his annual review.

The backlog of work at June 30 was less than in 1982 because of a downturn in orders received, he said. However, on a consolidated basis, the backlog is satisfactory, with some sections having six months’ work ahead.

“The level of quotations dur- - mg the last three months and into the new year has steadily , reduced.

“Nevertheless, a substantial number of outstanding quotations were carried forward and I management is confident suffi- ■ cient orders will be received to , at least maintain consolidated : turnover levels, even though the workload may not be balanced between branches.”

A significant increase in exports (up 22 per cent last year) is forecast.

As reported, profit rose 15.1 '■ per cent to 51,881,334 last year, m spite of a 7 per cent drop in , sales. Dividend was a steady . 15 per cent.