Laurenson forecast

Press, 8 November 1984, Page 23

Laurenson forecast

PA Dunedin Laurensons Bakery’s profit for the first two months was ahead of last year and ahead of budget, shareholders of the recently listed company were told at the first annual meeting yesterday. The chairman, Mr J. A. Valentine, said directors expected a satisfactory result for the full year. Much time had been spent in the previous year on forming the company, a long established bakery, obtaining listing and re-organising operations, he said. ,

“During the current year the directors intend to promote products more and introduce new products in response to changing public demand. We have recently installed a new pie-making machine to increase the range of pies.” Mr Valentine said the aftertax profit of $206,301 was ahead of the $170,000 estimate in the prospectus and that the profit of $169,000 since the date of allotment (April 30) also exceeded the estimate and adequately covered the 5c per share distribution.