Taylors considers new growth options

Shareholders at the company's AGM today were told that the forward outlook for the company appears satisfactory with underlying trends in the business unchanged from last year.

However the company says it realises its trading position remains limited by the small scale and competitive nature of its markets in New Zealand, and planning is underway to find new options to develop the business further.

The company says the significant reductions in administration costs over the past two years were largely achieved by sharing services with the parent company, Spotless Services.

At the end of the last financial year the listed linen-hire company posted an after-tax operating profit of $2.31 million, jumping more than 27% on last year, with most of the growth coming from its three healthcare plants in Auckland, Hamilton and Rotorua.

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