AWF Madison full-year earnings fall 3.7% on one-off restructuring costs

Pattrick Smellie
Wed, 25 May 2016

By Pattrick Smellie May 26 (BusinessDesk) - Costs associated with unwinding a joint venture in the Christchurch contract labour market contributed materially to AWF Madison reporting a "disappointing" $5.2 million profit for the year ended March 31, compared with $5.4 million a year earlier. A "rapid growth" in debtors across the group, particularly in Christchurch, saw provisions for bad and doubtful debt roughly double to about $600,000, chief executive Simon Bennett told BusinessDesk after the company issued its initial earnings announ...

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