12 Sep 2009

$1.6 million profit reported by Speirs Group

10:12 am on 12 September 2009

Speirs Group made a profit of $1.6 million for the 15 months to the end of June, compared with a loss of $3.2 million the previous year.

The result is due to gains from selling its finance arm to Allied Farmers.

Speirs is now focusing on its food manufacturing and distribution and nutrition businesses.

It will look to raise up to $3.5 million in capital through its nutrition business this year.