Mowbray struggles to stay afloat as $1.28 mln write-down weighs on profitability

Thu, 27 Nov 2014

By Suze Metherell Nov. 27 (BusinessDesk) - Mowbray Collectables, the listed stamp and collectables dealer and auction house, has flagged a first-half loss and is in discussion with bankers to stay solvent after a $1.28 million write down on its goodwill. The Wellington-based company posted an operating loss of $709,000 for the six months ended Sept. 30, ahead of tomorrow's first-half report, it said in a statement. Poor trading at its Mowbray Bethunes and Peter Webb Galleries combined with one-off restructuring costs and a loss on the dis...

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