Chow Group FY profit falls 82% on year-earlier property gain, sales rise

Wed, 14 Jun 2017

By Sophie Boot June 14 (BusinessDesk) - Chow Group, the NZAX-listed vehicle controlled by John and Michael Chow, said full-year profit fell about 82 percent, reflecting the impact of a year-earlier property gain, which overshadowed revenue growth in the latest 12 month period. Profit fell to $1.46 million in the 12 months ended March 31, from $8.1 million a year earlier, the Wellington-based company said in a statement. Revenue rose 102 percent to $2.17 million. The year-earlier profit mainly reflected a $8.35 million gain in the value...

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