1 Jun 2010

Further loss by CER group

6:55 pm on 1 June 2010

CER Group has reported a narrower full-year loss. The listed company lost $3.3 million in the year to the end of March - an improvement of 28% on the previous year.

Sales fell 10% to $4.6 million due to the slowdown in Europe, an appreciating New Zealand dollar and severe weather affecting its New Zealand Nature business.

CER shareholders are to vote on Wednesday on selling NZ Nature to former managing director David Warrick for $3 million.