The former owner of Nosh, Veritas Investment, has returned to a profit after the sale of Nosh and despite supply shortages have hit another one of its properties, the Mad Butcher.
Veritas made an after-tax profit for the six months to December 31 of $1.2 million. Now, the sale of Nosh could cost Veritas between $2.2 million and $2.6 million, and the Mad Butcher is struggling to stay afloat due to a competitive market and supply shortages in the beef and lamb markets.
However, Veritas chairman Tim Cook recently said the franchise was a major contributor to Veritas’ profitability, with the investment company working closely with franchisees to maximise their performance.
