Briefs

Press, 9 December 1983, Page 10

Briefs

Fund of N.Z.

Net earnings of the Fund of New Zealand. Ltd, for the six months to September 30. 1983, were $168,567. No tax properties have been sold but further areas have been leased in the Chartwell shopping centre in Hamilton to the extent that there is only 90725 q ft left to lease of a total of 150.4135 q ft. Turnovers have been most encouraging despite the hesitant economic climate, comparative figures for half-years being: to March 31, 1982. $6,040,170; to September 30, 1982, $8,869,514; to March 31, 1983. $11,872,606; to September 30. 1983. $11,275,562. Christmas trading significantly increases the March 31 totals. A syndicate led by the Auckland businessman. Mr J. C. Yates, is poised to take control of the Fund of N.Z. after a take-over bid. Aust, exports up Australian exports recovered strongly in the September quarter and imports rose for the second successive quarter. The Commonwealth Statistician says exports of goods and services rose almost 6 per cent, giving the first quarterly increase since the September quarter last year. A 2.6 per cent decline in rural exports was offset by strong growth of 12 per cent in non-rural exports. rural exports fell largely because of lower sugar exports, which were down 60 per cent on the record level in the previous quarter, and this was partially offset by a 33 per cent rise in cereals exports and a 20 per cent increase in wool.

Most non-rural export categories rose—apart from metals and metals manufactures. and machinery and transport equipment. Distillers board Mr J. J. Rance. 8.C0m.. A.C.A. has been appointed to the board of directors of the Distillers Company (N.Z.). Ltd. in Auckland. Mr Rance is already the company secretary and he will continue in this job. Mr L. A. Crooks will retire from the board and executive duties at the end of the year. E. Lumley change Mr. E. J. Alexander, the chairman and managing director of Edward Lumley Investments (NZ). Ltd. will retire at the end of this month after 47 years with the group. He will be succeeded by Mr R. A. Hopkins, who joined Lumley’s in 1958. Lumley's ultimate holding company is the British-based Edward Lumley Holdings. Ltd. and the New Zealand head office is soon to transfer from Wellington to Auckland. Winemaker sales The Inchcape group of the United Kingdom and the Westpac financier, A.G.C. Ltd. have sold out of the Hunter Valley winemaker, Wyndham Estate Pty, Ltd, in Australia. Wyndham executives will not disclose the price but have indicated it was just below sAustlo million. Wyndham’s managing director, Mr Brian McGuigan, has now lifted his holding from 12 per cent to 50 per cent. The other 50 per cent is now owned by the chairman-elect of Wyndham, Mr Stan Hamley, who was formerly with AGC.