Kirkcaldies’ annual pre-tax loss more than doubles; abandons business split

Thu, 24 Oct 2013

Oct. 24 (BusinessDesk) - Kirkcaldie & Stains, Wellington’s upscale department store, has abandoned plans to split its retail and property businesses and reported a widening of its annual pre-tax loss. The Wellington-based company’s pre-tax loss more than doubled to $2.38 million in the 12 months ended Aug. 31 from $1.08 million a year earlier, it said in a statement. Still, the company posted a bottom line profit of $168,000, compared to a loss of $773,000 in 2013, after recognising a revaluation gain in the value of its Harbour City Centre...

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