$106,000 loss by Huttons

Press, 27 February 1986, Page 23

$106,000 loss by Huttons

PA Wellington Huttons N.Z., Ltd, made a loss of $106,000 before extraordinary items in the six months ended December 31, compared with a $1,409,000 profit for the same period last year. Turnover in the six months was $24,137,000 ($29,927,000). The. company’s trading loss was also $106,000 ($2,563,000 profit) and no tax was paid ($1,154,000). Extraordinary items of $1,838,000 (nil) from the sale of an Investment resulted in a net surplus of $1,732,000 ($1,409,000).

An interim dividend of 7 c a share, or 7 per cent (same) will be paid on April 24, with books closing on April 10.

Directors of the Brierley Investments, Ltd-con-trolled smallgoods manufacturer said the trading result “reflects the difficult conditions facing the export segment of the business and the costs of borrowing to upgrade for export hygiene requirements and expenditure on capital improvements.

"It also relfects continued uncertainty in the United States market and industrial disturbances within the industry experienced at Eltham.” The company was continuing to modernise its distribution and develop new products for the domestic market.