AsureQuality posts 5% drop in 1H profit as costs rise; expects to beat FY target

Wed, 04 Mar 2015

By Tina Morrison March 4 (BusinessDesk) - AsureQuality, the state-owned food-testing company, posted a 5 percent drop in first-half profit, reflecting higher operating costs to develop future revenue streams and higher interest costs. Profit fell to $5.3 million in the six months ended Dec. 31, from $5.7 million in the year earlier period, the Auckland-based state-owned enterprise said in a statement. Revenue rose 9 percent to $87 million. AsureQuality said it expects to exceed its full-year profit forecast of $10 million following imp...

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