Methven posts flat first-half profit as NZ underperforms; encouraged by restructure

Wed, 28 Feb 2018

By Paul McBeth March 1 (BusinessDesk) - Methven reported a flat first-half profit as its New Zealand business underperformed with Christchurch activity settling down after the rebuild, but is encouraged by its restructuring plans to widen margins and chase global markets. Net profit was unchanged at $3.2 million, or 4.5 cents, in the six months ended Dec. 31, on a 5.7 percent gain in revenue to $52.8 million, the Auckland-based company said in a statement. Stripping out $516,000 of costs from its 'Fit 4 the Future (FFF)' restructuring pr...

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