Holeproof plans recovery
PA Auckland Holeproof Industries, Ltd, had laid the basis for a much better performance this year, the chairman, Mr W. Wilson, told the annual meeting yesterday. In the year to June 30, after tax trading profit dropped from $1,181,271 to $419,049. “Our trading performance in the first quarter of the current year confirms that we are in a recovery phase which should gain momentum and show through in improving results in the second half of the year,” said Mr Wilson. The company’s balance sheet was sound and expected cash flow for the year would improve it. “We have a platform for a much better performance.” Mr Wilson said that aggressive marketing plans had been introduced with a group sales target of about 10 per cent above 1983.
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Press, 22 October 1983, Page 22
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130Holeproof plans recovery Press, 22 October 1983, Page 22
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