IRG full-year loss widens to $1.1 mln as costs rise; assets under review

Thu, 14 Jun 2012

June 15 (BusinessDesk) - Investment Research Group, the NZAX-listed financial advisory and media company, reported a wider full-year loss on rising compliance costs and accounting adjustments, while income was little changed. The loss was $1.14 million in the 12 months ended March 31, from a loss of $1.02 million a year earlier, the Auckland-based company said in a statement. Total income fell 3.9 percent to $2.06 million while expenses rose 1.2 percent to $3.2 million. “IRG has had static income and high compliance costs,” said chairman Mar...

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