Veritas profit drops 23%, to pay smaller dividend as Nosh, BBC acquisitions weigh

Thu, 27 Aug 2015

By Paul McBeth Aug. 28 (BusinessDesk) - Veritas Investments, the food and beverage investor, posted a 23 percent drop in annual profit and will pay a smaller dividend to shareholders as it wrestles with integrating its Nosh Food Market and Better Beer Co acquisitions. Net profit fell to $3.34 million, or 8.17 cents per share, from $4.35 million, or 11.72 cents, a year earlier, the Auckland-based company said in a statement. While revenue soared to $45.7 million from $10.9 million on the Nosh and BBC acquisitions, transactions costs, highe...

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