3 Mar 2014

PGC records loss

3:36 pm on 3 March 2014

Pyne Gould, which is now domiciled in Guernsey, has posted a $6.6 million first-half loss, due to legal and consulting costs, foreign exchange losses and losses from an associate company.

The loss for the six months ended December compares with a $1.9 million profit in the same period a year earlier.

Pyne Gould says its core business of Torchlight lifted its profit 33 percent to $2.2 million.

The company says it expects to make a profit for the year ending June. It says some key events, including settlement of its sale of Perpetual Trust, occurred after 31 December.