Speirs Group turns to annual loss, foregoes dividend, amid rivalry, higher costs

Thu, 16 Nov 2017

By Tina Morrison Nov. 17 (BusinessDesk) - Speirs Group, the Palmerston North-based food processing business founded by the Speirs family, posted its first annual loss in four years after its salad business was hit by higher costs and weaker revenue as competition forced it to cut prices. The company posted a loss of $205,000 in the 12 months ended June 30, from a profit of $117,000 a year earlier, according to its 2017 Annual Report. Speirs is foregoing a dividend payment and the directors will reduce their total fees for 2018 to $99,000...

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