COMPANY MEETINGS
EMU WOOL INDUSTRIES LIMITED
GRATIFYING PROGRESS OF BRANDED PRODUCTS
TiHi 14th annual general meeting was held on July 26 in London.
In his circulated address, Mr. Neville Blond,
to O.B.E., the chairman reported that owing ‘() the deterioration in the country's general trading conditions Group figures showed a reduction in P.rntits in spite of the record sales achieved by the two main subsidiary companies. ljhe demand for the branded products of both Emu hand knitting wool company and the wcIlvitY men's underwear and beachwear company 4S very gratifying. Profit before taxation amounts to £309,344 com- Dared with £334.559 for the year to March, 1961. dxation took £168.221. The Directors recom- 25.). 'beaded that the total dividend be maintained at During the year negotiations had been concluded ,or purchasin a company for dyeing their own :and knitting g yarns. That acquisition would provide closer quality and quantity control of one of the rh ?St important processes in the knitting division. I° commenting on the outlook the Chairman concluded: ofirbe demand for the major profit earning products at pAlr Me tintroup k extremely satisfactory. However, t of writing, additional increases in many m s of oxerhead expenditure will have to be faced. 0°lY by further increases in the demand for our We oudusts and by increasing our productivity, can It-set this type of expenditure.
Directors have, however, shown their con- „"onct. in the continued success of the Group by rnmending a similar overall dividend to last year. 11% report was adopted.
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