Syft sales jump more than 50%, profit growth misses target on production costs

Thu, 19 Apr 2018

By Jonathan Underhill April 20 (BusinessDesk) - Syft Technologies, which makes gas detection and analysis products, says sales rose more than 50 percent in its latest year, which was lower than forecast and profit growth also missed its target because of increased production costs. Sales in the year ended March 31 exceeded the $8.3 million in revenue it reported for 2017, the Christchurch-based company said. Profit topped 2017's $1.15 million, but not by as much as expected, it said, without being specific. "This rapid growth in sales...

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