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

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...

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