Postie Plus reels from outsourcing woes as 1H loss widens, burns through cash

Postie Plus reels from outsourcing woes as 1H loss widens, burns through cash
By Paul McBeth March 22 (BusinessDesk) - Postie Plus Group, the retailer whose shares have plunged 38 percent this year, is reeling from a wider first-half loss as it deals with major problems at its outsourced distribution centre, burning through cash in the process. The Auckland-based retailer made a net loss of $1.8 million, or 4.61 cents per share, in the six months ended Feb. 3, from a loss of $775,000, or 1.94 cents, a year earlier, it said in a statement. Earlier this month Postie Plus said it was bracing for an annual loss and would...