APM Workcare's annual NZ earnings shrink as staff bolstered to meet new contracts

Paul McBeth
Sun, 17 Dec 2017

By Paul McBeth Dec. 18 (BusinessDesk) - APM Workcare's New Zealand business reported a 19 percent drop in annual profit in 2017 as the Australian employment and rehab services provider's local unit added staff to meet new contracts.  Net profit fell to $1.4 million in the 12 months ended June 30 from $1.8 million a year earlier as gross margins shrank to 16.6 percent from 21.5 percent with a bigger spend on subcontractors, accounts for the local holding company show. Revenue climbed 26 percent to $30.7 million in the year, with APM New Ze...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Opinion FREE
Brian Gaynor: a 'titan' of NZ's capital markets
Jenny Ruth | Sat, 21 May 2022

Brian Roche remembers Brian Gaynor as "sorta scary and impressive at the same time – a real 'conscience' of what was right and fair." 

On the Money
On the Money: Brian Gaynor tributes, Damien Grant's slip-up, Marsden Point and more
Pattrick Smellie | Sat, 21 May 2022

OTM this week: Tributes to a legend of the NZ investment world, who forgot to BCC their who's who subscriber list, a slightly bemusing no smoking note at the Budget lockup and more. 

Law & Regulation
Unlawful collection of Companies Office fees fixed under urgency
Ian Llewellyn | Fri, 20 May 2022

The Companies Office's administration of fees may have saved costs, but the problem is it was against the law.

Partner content
What’s driving the ram raids, and what shop owners can do

Scott La Franchie explains the motivations behind the spate of burglaries.

Partner content
Grow your business by taking time to plan

Getting business fundamentals right gives the best chance at beating the unplannable.