AWF Group has reported a down turn in half-year profit as the anticipated pick-up in Christchurch failed to materialise.
The casual labour provider's net profit more than halved to nearly $1.9 million in the six months to September, compared with more than $4 million for the same period last year. Its operating profit fell 19% to $3.4 million.
The company says it hired more staff in Auckland and Christchurch in anticipation of a pick-up in these key regions and while West Auckland lived up to those expectations, the company says it didn't witness development growth in Christchurch.
AWF says there was also weakness in its business outside of the metropolitan areas due to a decline in production activity and climate conditions.
