Veritas, Mad Butcher franchisor, to boost annual dividend as 1H profit falls 6.8 percent

Thu, 27 Feb 2014

By Suze Metherell Feb. 27 (BusinessDesk) – Veritas Investments, which own the Mad Butcher franchise chain, said earnings fell 6.8 percent reflecting a drop in sales and accounting adjustments, while boosting forecast annual dividends. Net profit fell to $2 million in the six months ended Dec. 31, from $2.2 million a year earlier, the company said in a statement. The decline was in part due to accounting costs not previously recognised. Revenue slipped 1.2 percent to $14.5 million. Its accounts show a 4.3 percent drop in carcass purchases t...

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