MetService expects FY earnings to drop on delay in inking new MoT contract

Wed, 25 Mar 2015

By Tina Morrison March 26 (BusinessDesk) - Meteorological Service of New Zealand, the state-owned weather bureau, says annual earnings will be $2 million less than estimated because of delays finalising its largest contract. Wellington-based MetService lowered its forecast for earnings before interest and tax to $3.05 million in the 12 months ending June 30, from the $5.05 million originally forecast. The bureau is finalising funding for a new four-year contract negotiated with the Ministry of Transport, Chair Sarah Smith said in MetServi...

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