AWF 1H profit slides 57 percent as predicted Christchurch growth doesn’t appear, Panacea exited

Thu, 14 Nov 2013

By Paul McBeth Nov. 14 (BusinessDesk) - AWF Group reported a 57 slump in first-half profit as its predicted growth in Christchurch didn’t eventuate and after the country’s biggest supplier of temporary staff exited its Panacea Healthcare unit. Net profit fell to $1.9 million, or 7.2 cents per share, in the six months ended Sept. 30 from $4.4 million, or 16.7 cents, a year earlier, the Auckland-based company said in a statement. Stripping out the gains from the sale of its Panacea unit a year earlier, underlying profit fell 19 percent to $1....

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