CORRECT MetService more than doubles 2013 annual profit after renewing key contracts, cutting costs

Mon, 21 Oct 2013

(Corrects historical dividend figure in 10th paragraph, adds latest payment) By Tina Morrison Oct. 21 (BusinessDesk) – Meteorological Service of New Zealand, the nation’s state-owned weather forecaster, more than doubled annual profit in 2013 as it reduced costs and renewed key contracts in a challenging market. Profit rose to $2.7 million in the year ended June 30, from $1.1 million the year earlier, the Wellington-based company said in its annual report presented to parliament today. Sales edged up 0.2 percent to $42.3 million while expens...

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