Caprana prospects
PA Wellington The directors of the goat breeding company, Caprana Corporation, Ltd, which will be listed on the Stock Exchange today, are optimistic that newly announced livestock tax changes will enhance the company’s earnings prospects. “The Government’s final proposals no longer seek to tax unrealised profits, and now allow farmers the option of valuing farm-bred stock at the cost of production. The directors, therefore, expect the company’s future income tax liability to be significantly less than that originally forecast in the prospectus with a corresponding enhancement of future after-tax earnings,” they said. And Almaree Breeding Partnership, Ltd, and Company, a special partnership formed to lease and farm angora goats, has closed oversubscribed, Mr John McGrath, of NZI Investment Services, Ltd, has advised. The venture has leased 200 does and three bucks from Almaree Angora Stud, which will farm the animals on their property near Te Kauwhata.
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Press, 18 June 1986, Page 38
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148Caprana prospects Press, 18 June 1986, Page 38
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