McAlpine has $1.7M loss
PA Auckland McAlpine Industries, Ltd, the Auckland appliance manufacturer, has reported a loss of $1,738,002 for the year to July 31. No final dividend is recommended. The loss after a tax benefit of $297,000, comes after a profit of $1,154,000 in the previous year. In that year, the company had a tax bill of $593,000.
An extraordinary loss of $51,000 for the latest year arising from the termination of the Rolbond business was also reported. Sales were down 11.1 per
cent. The company has also reported a 22 per cent downturn in sales for the second half year, compared with the second half of the previous financial year. The directors say interest and other costs are considerably higher in 1983. At the halfway stage, a loss of $784,000 is reported. The directors expect further, but less severe, losses in the second half.
They say that, despite the intense competition, the appliance section maintains its market share and continues to be a profitable operation.
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Press, 30 September 1983, Page 20
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167McAlpine has $1.7M loss Press, 30 September 1983, Page 20
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