Another View On
p. 125 · Read in the full issue
Csr Action
A Fiji accountant, and adviser to the Alliance Cane Contract Committee during last year’s sugar tribunal, Mr. R. S. Kay, has disputed CSR’s claims that it can’t make money in Fiji.
Mr. Kay said Lord Denning was well-advised by an account ant, the late Mr. Robert McNeil.
Lord Denning, in reaching his figures of $F7,456,500 for annual CSR sugar-making costs, had made it clear he considered CSR head office expenses were higher than they need be. [The CSR has said that its costs are s2m a year more than this].
“It seems to me CSR always overstates its case, and then gets cross if it is challenged,” Mr.
Kay said.
“The great weakness in the CSR case is their argument that they should be given a large enough share of the proceeds to cover what they call their inevitable cost escalation, and every disaster which might ever occur. They seem to ignore the existence of the growers.”