UPDATE: MetService 2015 profit drops on delays in inking new MoT contract

Wed, 02 Sep 2015

(Adds detail of 2015 dividend in sixth paragraph) By Tina Morrison Sept. 2 (BusinessDesk) - Meteorological Service of New Zealand, the state-owned weather bureau, said 2015 annual profit dropped by almost two thirds because of delays in finalising a new deal with the Ministry of Transport, its largest contract. The Wellington-based company's net profit slumped to $910,000 in the 12 months ended June 30, from $2.6 million a year earlier, as revenue was little changed at $46 million from $45.7 million. Excluding the MoT contract, annual ...

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