Energy Mad nearly halves first-half loss by slashing staff costs, sales commissions and fees

Wed, 25 Nov 2015

By Paul McBeth Nov. 26 (BusinessDesk) - Energy Mad, the unprofitable lightbulb maker which counts NZX's SuperLife as its biggest shareholder, almost halved its first-half loss, after slashing staff costs and winding back sales commissions and other external fees. The net loss narrowed to $656,000, or 1 cent per share, in the six months ended Sept. 30, from a loss of $1.2 million, or 3 cents, a year earlier, the Christchurch-based company said in a statement. Revenue dropped 37 percent to $2.5 million, while the cost of sales shrank 40 pe...

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