UPDATE: Veritas shares slump after downgrade to earnings forecast

Tue, 26 Jan 2016

(Updates throughout to add share price movement, broker comment) By Tina Morrison Jan. 27 (BusinessDesk) - Veritas Investments shares slumped by almost a third after the food and beverage investor downgraded its outlook for earnings and nixed a first-half dividend. The Auckland-based company said underlying profit, which excludes one-time items, will probably be between $3 million and $3.5 million in the year ending June 30, down from a previous estimate of $5.3 million to $5.5 million. Underlying profit fell 4.3 percent to $4.3 millio...

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