Plumbing World’s year
PA Wellington Plumbing World Ltd, an unlisted public company, had after-tax earnings of $4,252,583 for its maiden year to March 31. But the general manager, Mr Paul Cowan, said in the company's annual report, profitability was dissappointing because some overhead expense items increased out of proportion to
Plumbing World Ltd is 72.7 per cent owned by the N.Z. Plumber’s Merchants Society, Ltd, which formed the subsidiary in August last year to add retailing to its operations. Sales for the year were $24,772,000, making Plumbing World New Zealand’s leading supplier of plumbing goods to the trade and the public. The sales included those by the
plumbers’ merchants, Parker Hardley Merchants, Ltd, which Plumbing World bought last September. The company now has 33 outlets. Directors are to recommend a final dividend of 7.5 c a share, or 15 per cent, on August 31 to shareholders other than NZ Plumbers’ Merchants Society,, on the register at July 31.
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Press, 6 August 1987, Page 31
Word Count
158Plumbing World’s year Press, 6 August 1987, Page 31
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