Postie Plus Group reports wider annual loss on inventory write down

Wed, 06 Nov 2013

By Tina Morrison Nov. 7 (BusinessDesk) – Postie Plus Group, the worst performer on the New Zealand stock exchange this year, said its annual loss was wider than previously stated as it wrote down the value of its inventory even more. The retailer said late yesterday its loss widened to $13.2 million in the 12 months ended Aug. 4, from a Sept. 27 estimate of $11.6 million, and a $180,000 loss a year earlier. Postie Plus shares were released from a trading halt late yesterday, and last changed hands at 11 cents, taking its decline so far this...

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