Batley short of target

Press, 2 December 1985, Page 40

Batley short of target

PA Auckland Batley Printing Group, Ltd, has fallen short of its forecast trading profit of $1,015,000 for the year ended September 30. Net tax-paid trading profit for the period was $769,000. Extraordinary items of $378,000, being issue expenses and goodwill written off, reduce the total to $391,000.

There are no comparative figures. Turnover was $6,617,000 and the profit was after tax

of $330,000. The prospectus forecast of a total 6.5 c a share dividend (13 per cent) has been matched with a final Ent of 3.5 c payable on mber 20, ex December 10. The directors say that in the early part of the year the group was not able to take full advantage of the buoyant market for its products because of the shortage of trained staff within the industry. During the year, moves

were made to strengthen the company’s base by acquiring a more sophisticated carton gluer, the business of Fabian Cartons, Ltd, and an Auckland forme-making company.

The directors say that despite the marketplace being more competitive, the prospects for the present year look promising. However, they say it will be difficult for the company to achieve the original , tax paid profit forecast of $1.2 million in the full year.