Veritas cuts earnings guidance after AGM, sees profit falling by up to 17% in 2018

Wed, 06 Dec 2017

By Paul McBeth Dec. 6 (BusinessDesk) - Veritas Investments expects annual profit to fall as much as 17 percent in the 2018 financial year, issuing the earnings downgrade in a notice to the stock exchange following today's annual meeting. The food and beverage investor is operating under the close watch of lender ANZ Bank New Zealand, which wants Veritas to sell assets to repay debts. The company today said it expects net profit from continuing operations of between $3.5 million and $4 million in the 12 months ending June 30, down from $4...

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