FARMERS’ TRADING
Little Change In Profit (N.Z. Press Association) AUCKLAND, June 9. Consolidated net profit of Farmers’ Trading Company edged up £4169, or little more than one per cent, to £413,223 in the year to March 31. This was in spite of increased competition, rising operational costs and establishment costs of new or expanded units, the chairman (Mr W. Calder Mackay) says in the annual report. Sales exceeded £lsm for the first time in the company’s history. They rose £603,057, or 4.1 per cent, to £15,164,094, compared with an increase of £990,485, or 7.3 per cent, in the previous year. The increase in profit was not sufficient to maintain earning rate on ordinary shareholders’ funds.
Gross profit at £1,127,325 was £24,612 higher.
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Press, Volume CVI, Issue 31082, 10 June 1966, Page 15
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122FARMERS’ TRADING Press, Volume CVI, Issue 31082, 10 June 1966, Page 15
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