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Verimark tumbles on half-year loss

Nov 12 2012 10:30
Johannesburg - Shares of Direct response retailer Verimark Holdings [JSE:VMK] tumbled 5.6% to 85 cents after the seller of "As seen on TV" goods says it fell to a pre-tax loss of R4.4m in the six months to end-August, hit by unexpected supply challenges and operational inefficiencies.

Verimark, whose products include the "Shogun" knife sharpener and the "Genie Bra", says the unexpected delay in the completion of its new head office and warehouse will continue to have a negative impact.

But wait, there's more: Verimark also says it will not pay an interim dividend.

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