Viko expects improvements

Press, 19 April 1986, Page 22

Viko expects improvements

PA Auckland The directors of Viko Holdings, Ltd, expect taxpaid profit for the December 31 year to be between 11 and 15 per cent higher than that for 1985.

In an informal address to shareholders at the annual meeting, the company’s chairman, Mr P. J. Vucich said sales for the first quarter were 4.6 per cent ahead of predictions. The consumer photo-finish business was up 23 per cent.

Mr Vucich said the financial result for the year depended to some degree on the strength of the Australian dollar, as the results of the New South Wales subsidiary were consolidated at the end of the year. He told shareholders that most spheres of the

company’s business would benefit from recent reduction in sales tax on various products. The reduction of sales tax on cameras and photographic films would stimulate the photo-fin-ishing business, probably for the first time in five years.

Similarly, the business machines sector would also get a boost from a sales tax reduction, he said. Before the tax reductions were announced, the directors had expected a static time for the business machine sector of the company until the introduction of the goods and services tax.

Mr Vucich said an extensive new range of business machines would be introduced later in the year.