Energy Mad outlines risks for return to profit

Thu, 19 Jul 2012

July 19 (BusinessDesk) - Energy efficient lightbulb innovator and marketer Energy Mad says it's committed to hitting the 2012/13 $4 million net profit projection in the prospectus for last year's share float, after badly missing its targets within months of listing on the NZX. The Christchurch-based company had forecast a net profit of $2.1 million in the year to March 31, but turned in a $1.1 million loss instead, as revenue shrank to $6.2 million from $8.6 million the previous year. But chief executive Chris Mardon said the company was "com...

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