Amplifon NZ reports lower profit in 2013 amid restructure

Tue, 01 Jul 2014

By Pam Graham July 1 (BusinessDesk) – Amplifon NZ, the country’s biggest audiology business, posted a lower profit in 2013 after restructuring its store network in the face of increased competition. 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 $1...

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