Baillie drop
PA Wellington Hastings-based Baillie Farmers Motors, Ltd, part of the Brierley group, has heavily cut profit to $345,000 ($1,310,000 last year) for the year ended June 30. Turnover was $34.7 million ($38.3M). Tax took $210,000 ($522,000). The result includes capital profits of $136,000 ($516,000) and is after deduction of extraordinary losses of $35,000 (profit of $37,000).
Final dividend will be 5c a share to be paid after Octo-
ber 20. Directors said the decline in sales reflected the closure of Dannevirke operations. Strikes at assembly plants which affected the supply of vehicles had inhibited lesults: Trading profits came under pressure through increased competition in a falling market as the economy tightened in the rural sector. However, the company’s market share was maintained at levels significantly above the national average.
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Press, 29 August 1986, Page 10
Word Count
131Baillie drop Press, 29 August 1986, Page 10
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