14 Mar 2014

Just Water jumps higher

12:29 pm on 14 March 2014

Just Water International has reported a jump of almost 70 percent in first-half net profit due to exchange rate gains and cost-cutting.

The listed water-cooler company made $1.06 million in the six months to December, up 68.9 percent compared with the $630,000 it made for the same period last year. Sales rose 2.2 percent to $13.5 million.

The period includes an exchange gain of $250,000.

The company says the very competitive market in both New Zealand and Australia is its biggest issue, with deep price discounting from its competitors, but productivity improvements cut costs over the half-year.