Tru-Test posts annual lost on writedown related to NZ dairy downturn

Sat, 06 Aug 2016

By Jonathan Underhill Aug. 6 (BusinessDesk) - Tru-Test Corp, the agricultural technology company, has posted a full-year loss after writing down the value of its Dairy Technology Services (DTS) unit to reflect a downturn in the global dairy sector. The loss was $14.3 million in the 12 months to March 31, from a profit of $4.2 million a year earlier, according to the Auckland-based company's annual report. Sales rose to $141.1 million from $140.9 million. Tru-Test kept many of its costs in line with the previous year and would have ach...

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