W. Neill details activities

Press, 4 July 1985, Page 28

W. Neill details activities

PA Dunedin The Dunedin-based liquor retailer and exporter, Wilson Neill, Ltd, has departed from tradition in its latest annual report, showing how its two divisions performed separately. This segmented disclosure coincides with the accession to managing director of Mr C. F. Herbert. The figures are included in his annual review, a detailed account of operations which had been started by his predecessor, Mr R. E. 0. Wilson. The accounts show that, while the export division

had lower revenue than the consumer division, its after-tax profit was $200,000 higher. However, its tax provision was only half of that handed over by the domestic operations. The export division had sales and other income of $40,239,000, a pre-tax profit of $2,323,000 and profit of $1,843,000 after paying $743,000 tax. Associates and minorities took a further $263,000. The consumer division had sales of $53,027,000, pretax profit of $3,028,000 and final profit of $1,644,000 after paying $1,384,000 in

tax. Elsewhere in the report the chairman, Mr J. A. Valentine, notes that the export division turn-over was up 33.6 per cent on the previous year and the consumer division turn-over increased 34.5 per cent. The consumer division now concentrates on liquor and hospitality since the sale of all but one of the appliance stores. Commenting on the divisional reports, Mr Herbert says that it not only provides fuller disclosure, but also underlines the balanced performance of the two divisions.