New Image expects to post $4 million loss

NZX-listed health food company New Image said it expects to report a loss of around $4 million for the year to June due to writedowns of goodwill, stock and other adjustments.

Aside from the writedowns the company said it expects to report an underlying profit of around $1.3m.

Revenue for the 2011/12 year is expected to be around $73m - about 3 per cent down from the previous year, the company said.

The second half of the year had shown an improvement from sales growth in new countries.

Shares in New Image last traded at 12.2c, down from 28c this time last year.