Veritas slashes annual profit guidance by 19% as Nosh turnaround struggles

Thu, 28 May 2015

By Suze Metherell May 29 (BusinessDesk) - Veritas Investments, the food and beverage investor, has slashed its full year profit guidance 19 percent, blaming a slower than expected turnaround in its gourmet supermarket chain, Nosh Food Market, and tighter drink-driving legislation weighing on its Better Bar Company unit. The Auckland-based company, which also owns the Mad Butcher franchise, now expects profit to be $4.3 million in the 12 months ending June 30, down from the $5.3 million it forecast in February, which itself was a downgrad...

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