Veritas 1H profit falls on acquisition costs; FY earnings to be at low end of guidance

Wed, 25 Feb 2015

By Paul McBeth Feb. 26 (BusinessDesk) - Veritas Investments, the food and beverage investor, reported a 16 percent decline in first-half profit as acquisition costs mounted during a buying spree, and warned annual earnings may be at the low end of guidance depending on how its new businesses perform. Net profit fell to $1.71 million, or 4.54 cents per share, in the six months ended Dec. 31, from $2.04 million, or 5.52 cents, a year earlier, the Auckland-based company said in a statement. That included one-off acquisition costs of $775,000...

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