Verimark achieves revenue growth, but lower profit in H1

Consumer products company Verimark’s revenue for the six months to August 31 grew by 13.7% to R209.7-million, but its pre-tax profit decreased to R2.2-million, from R3.9-million during the first half of the prior financial year. The lower profit is owing to an increase in new products, which resulted in an 85.7% increase in advertising spend. The company expects financial benefits as a result of the introduction of the new products in the months ahead.