Kordia turns to profit in 1H as Australian business improves

Wed, 04 Mar 2015

By Tina Morrison March 4 (BusinessDesk) - Kordia Group, the broadcasting and telecommunications network operator, turned to a profit in the first half on an improved performance at its Australian business. Profit was $100,000 in the six months ended Dec. 31, from a loss of $3.8 million a year earlier period, the Auckland-based state-owned enterprise said in a statement. Revenue fell 24 percent to $121.9 million, driven lower by the Australian unit as it exited low-margin work to focus on improved profitability. Kordia is foregoing div...

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