PharmaZen first-half profit rises 23%, restrained by strong kiwi, depreciation costs

Mon, 05 Sep 2016

By Jonathan Underhill Sept. 5 (BusinessDesk) - PharmaZen, the Christchurch-based animal and human nutrition manufacturer, said first-half profit rose 23 percent as an increase in sales was offset by the impact of a strong kiwi dollar and higher depreciation charges. Profit was $290,000 in the six months ended June 30, from $230,000 a year earlier, said the company whose shares trade on the Unlisted platform. Turnover rose to $3.71 million from $3.63 million. Shares of PharmaZen, which first listed in July 2004, last traded at 7 cents,...

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