CER disappointed

CER Group reported a full year loss of $3.3 million and said the disappointing result should be seen in the context of a challenging 12 months for retailers.

The company's wholly owned subsidiary e-commerce retailer and direct marketer New Zealand Nature had gross sales of $4.6 million for the year to the end of March, compared to $5.1 million a year earlier.

The result showed a decision to sell NZ Nature, for $3 million, was timely, the company said.