Angora’s profit up
PA Wellington Angora Corporation (N.Z.), Ltd, has reported an unaudited profit of $237,000 for the 18 months ended December 31, including the last six months as a listed company. The directors said that the result was before writing off $21,000 part-pre-liminary expenses. Sales were $335,000 and no tax was payable. As stated in the prospectus no dividend is recommended. Original projections were to break even in the first six months, but progress had been such that the results achieved much better than budget. In valuing livestock on hand, regard had been taken of the uncertainty of present market prices and the consequences of proposed tax changes.
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Press, 14 February 1986, Page 10
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109Angora’s profit up Press, 14 February 1986, Page 10
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