Foveaux profit cut
PA Wellington Foveaux Radio, Ltd, of Invercargill, has reported a reduced profit of $47,700 ($86,006 the previous year) for the year ended March 31, although its turnover was up 14 per cent. Income and sales revenue was $1,004,423 ($881,345). No tax was paid. The profit reduced accumulated losses to $83,461 from $131,161 at March 31, 1985. A 20.3 per cent increase in expenditure included depreciation of $47,227 ($40,456).
The chairman, Mr T. H. Jenkins, said that while trading conditions in Southland since November had been difficult, sales for the first two months of the current year were ahead of last year.
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Press, 18 June 1986, Page 38
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104Foveaux profit cut Press, 18 June 1986, Page 38
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