Mad Butcher 'trading to expectations' as Veritas cuts profit forecast

Veritas Investments, owners of the Mad Butcher franchise, has cut profit projections for the year by 19 percent. However, the reduction, from 5.3 million in February to $4.3 million for year ending 30 June, is not connected to the Mad Butcher franchise, which it says is trading as expected despite publicity earlier this year over franchisee liquidations. Instead, it says that the turnaround of the under-performing Nosh chain is behind schedule and drink-driving legislation has affected the performance of its Better Bar Company sites in Hamilton.