MetService more than doubles 2013 annual profit after renewing key contracts, cutting costs

Mon, 21 Oct 2013

By Tina Morrison Oct. 21 (BusinessDesk) – Meteorological Service of New Zealand, the nation’s state-owned weather forecaster, more than doubled annual profit in 2013 as it reduced costs and renewed key contracts in a challenging market. Profit rose to $2.7 million in the year ended June 30, from $1.1 million the year earlier, the Wellington-based company said in its annual report presented to parliament today. Sales edged up 0.2 percent to $42.3 million while expenses declined 5.2 percent to $37.7 million. In the 2013 financial year, MetServ...

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