British uncertainty looms as Gentrack posts loss

Thu, 28 Nov 2019

Utilities software developer Gentrack posted a loss, as expected, having written off a dud investment earlier this year, while the impact of customers going bust weighed on underlying earnings.The Auckland-based company reported a net loss of $3.3 million in the 12 months ended Sept. 30, compared to a profit $13.9 million a year earlier. The bottom line was dragged down by a $14.6 million impairment charge from writing off the carrying value of CA Plus, which it bought in 2017.The underlying result wasn’t much better, with earnings before inter...

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