Mad Butcher sites remain unsold

Veritas Investments says it has had no success selling Mad Butcher outlets currently for sale and that the cut-price meat chain continues to face a "challenging" environment.

However, it remains on track to meet profit guidance issued in June, in which it said annual profitability was expected to rise 28 per cent in the 2016 financial year - equivalent to its earlier expectation of results for the 2015 financial year. The company said then that it expected net profit of between $5.3 million and $5.5 million in the year ending June 30, 2016, up from the $4.3 million anticipated in 2015.