Fire and floods weigh on Tower’s profit
But the company will pay its first dividend since 2016 in July.
NZX-listed insurer Tower has confirmed its first dividend since 2016 but the Lake Ōhau village fire and severe flooding in Napier have weighed on its half-year profit.
Tower today said its net profit after tax in the six months to March 31 was down 19% to $12 million.
This included the
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