Just Water posts 17% decline in annual profit

Tue, 01 Sep 2015

By Suze Metherell Sept. 1 (BusinessDesk) - Just Water International, the water cooler and supplies business 79 percent owned by founder Tony Falkenstein, reported a 17 percent drop in annual profit, as restructuring costs weighed on the bottom line. Profit fell to $1.1 million in the year ended June 30, from $1.3 million a year earlier, the Auckland-based company said. That reflected $191,000 in restructuring costs this year and a $262,000 gain in foreign exchange in the 2014 year. Sales fell 5 percent to $16.5 million, while earnings be...

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