Pyne Gould Corporation still intends to return money from the sale of Perpetual Group to shareholders.
The troubled wealth management company made a net profit of $44.4 million in the 12 months to the end of June, a turn around from the loss of nearly $48 million it reported last year.
PGC made a gain of more than $17 million from exiting its retail financial services, van Eyk in Australia and Perpetual Group and Perpetual Trust in New Zealand earlier this year.
The sale of Perpetual Trust is confirmed and due to be completed by the end of the year.
Pyne Gould says it expects to implement an on-market share buyback programme to return the capital from the sale of Perpetual Group.
It is still reviewing whether to delist from the NZX in favour of listing on the Australian or British sharemarkets. Pyne Gould said it will seek shareholder approval once it has completed the work in this area.
