Amplifon NZ reports lower profit in 2013 amid restructure

Tue, 01 Jul 2014

By Pam Graham The Italian owned company reported a profit of $6 million in calendar 2013, down from $9.4 million in 2012, according to financial statements lodged with the Companies Office. Revenue slipped to $58 million from $60 million a year earlier while cost of sales rose to $47.7 million from $28.7 million, reducing gross profit by two-thirds to $10.37 million. In its 2013 annual report, the Italian parent Amplifon said the New Zealand business, which has about 48 percent of the market, faced stiff competition and weak demand...

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