Ventia Services says its maintenance, cleaning and management contracts are protected against rising inflation as the newly listed group delivered a 30 per cent drop in annual net profit to $19.5 million.

Chief executive Dean Banks told analysts the group’s January numbers were in line with forecasts despite some staff members being absent due to COVID-19 early in the month and that he was optimistic about the outlook for the remainder of the year. “We’re in a good position,” he said.