PGG Wrightson gets bank support after $32.8m loss

PGG Wrightson half year results: Revenue: $737.7m, up 32pc Profit: -32.8m, down 195pc Dividend: 5 cents per share Big rural services company PGG Wrightson has today posted a loss of $32.8 million for the six months to December, down from the $34.6 million recorded in the same period last year.

Profits at the company have been hit by a series of one-off costs.

Its earnings per share dropped to a negative 11c in NZ dollar terms, down from 12c benefit in the same six months of 2007. Its shares were trading today at 77c.

The listed company reported operating revenue of $737.722 million ($559.925m in 2007) and gross profit of $157.346m ($138.93m) both rose, but its profit before interest, slumped to $16.154m ($53.182m). Net interest costs were $16.41m ($9.862m) and its after-tax loss from continuing operations was $32.761m ($33.836m last year).

To read the full NZ Herald story click here

Posted: 26 Feb 2009

News articles