Stevens will compete

Press, 9 August 1985, Page 8

Stevens will compete

PA Auckland Stevens Corporation, Ltd, will lift its activities to “a much higher plateau” in the present financial year, says the group managing director, Mr Bruce Butler.

Stevens will develop “selective strategies” with companies with which it is compatible, he says in the annual report. “We see considerable advantages ... in utilising the strengths of two or more organisations.” Stevens has agents in Australia, the United Kingdom and the United States seeking new products to distribute in New Zealand, says Mr Butler. “Considerable market development work has been undertaken with vitamins, health food and sports medicine and we envisage new ranges being launched in the market in 1985 and the first quarter of 1986.” Trading in the March 1985 year was unsettled, says Mr Butler.

However, he considers politically inspired changes to the economy will have a favourable impact on Stevens. There is no alternative but to become “internationally competitive,” he says. As reported Stevens lifted consolidated tax-paid, trading profit 40.7 per cent to $754,000 on turnover 23 per cent up to $69.66 million. Earnings a share were up from 23.4 c to 32.9 c. Shareholders’ funds increased from $5.15 million to $5.60 million. The equity ratio at balance date was 28.5 per cent.