Kenwood profit down
PA Wellington Kenwood Stud, Ltd, has posted a profit of $135,219 for the six months ended March 31 — well down on the $263,000 reported for the same period last year.
Turnover was $1,395,000 ($1,276,000). No tax was payable (nil).
An extraordinary loss of $18,300, against a 1987 extraordinary profit of $139,000, took the bottom line profit to $116,919 ($384,726).
The Kenwood chairman, Mr John Taylor, said trading for the first six months reflected lower than expected returns from yearling sales.
No other details were provided.
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Press, 21 July 1988, Page 24
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88Kenwood profit down Press, 21 July 1988, Page 24
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