HALF-YEAR FOR HAY’S

Press, Volume CV, Issue 31001, 5 March 1966, Page 18

HALF-YEAR FOR HAY’S

Sales Rise 7| p.c.

Sales by Hay’s, Christ-church-based department stores, rose more than £150,000 —or 7 J per cent—in the halfyear to January 31, compared with the same six months of the year before. Trading conditions have been fairly buoyant during the half-year, directors say in an interim report. Satisfactory trading in the second half of the year should ensure that the company’s profit performance for the year should be acceptable and in line with the board’s estimates, they say. Interim ordinary dividend is steady at 4} per cent. Total payout last year was 10 per cent, payable March 25, ex dividend March 10.

C.P.D. Acquires Cant. Eng. (N Z Press Association) WELLINGTON, March 4. Directors of the Cable Price Downer group of companies announced today they have concluded arrangements to acquire all of the shareholding in Canterbury Engineering Company, Ltd., a Christchurch company manufacturing electrical switchgear and components. The company will be run as a separate subsidiary of the group.

Moulded Prod. Profit Eases (N.Z. Press Association) WELLINGTON, March 4. Subject to audit, the profit of Moulded Products (Australasia), Ltd., plastic goods manufacturers, Melbourne, for the year ended December 31, 1965, was 1,001,330 dollars (excluding a profit on disposal of surplus assets of 29,646 ddllars). This was -after providing 1,043,190 dollars for depreciation and lease rentals and 606,018 dollars for taxation. The previous year, the profit was 1,075,128 dollars, and tax provision was 621,828 dollars.