Arnold Wright optimistic
The unaudited group net profit of Arnold and Wright, Ltd, rose 33.6 per cent to $159,000 in the six months ended October 31, the directors announced yesterday. The result was after providing $32,000 more for taxation at $98,000 and export sales rose marginally, from $142,000 to $149,000. At the end of January sales for the group were 22 per cent higher than they were at the same time last year. This improved level of sales is expected to continue to the end of the financial year and beyond, the directors say. Despite the eroding effect of inflation and ever rising
costs, profit has increased, compared with the same period last year, by about 33 per cent. Moreover, as a result of internal changes and improved facilities in Arnold and Wright, Ltd, the group's profit level should, barring unforeseen circumstances, rise significantly in the new financial year. This" expectation is increased by the exciting prospect posed by the various big developments that are now in train in New Zealand and from which the group is expected to benefit to a worth-while extent through engineering and electrical subsidiaries, they say.
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Press, 2 March 1982, Page 22
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191Arnold Wright optimistic Press, 2 March 1982, Page 22
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