Kirkcaldie posts $6.5 mln annual loss on write-downs

Mon, 20 Oct 2014

By Paul McBeth Oct. 20 (BusinessDesk) - Kirkcaldie & Stains, the upmarket Wellington department store, sank back into the red after a series of write-downs, including the loss on the sale of its Harbour City Centre building, wiped out an operating profit in the year. The Wellington-based company reported a net loss of $6.5 million, or 63.45 cents per share, in the 12 months ended Aug. 31, from a profit of $168,000, or 1.64 cents, a year earlier, it said in a statement. While it turned an operating profit of $375,000 in the year, it took a...

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