Published 26 August 2008
Never mind the credit crunch: All 3 of Pyne Gould Corp Ltd’s businesses produced record results for the June year, lifting the parent’s net profit by 22% to a record $44.8 million.Marac Finance Ltd lifted its profit by 6% to $27.9 million, Perpetual Trust Ltd by 26% to $3.7 million and PGG Wrightson Ltd by 75% to $15.8 million.Pyne Gould chairman Sam Maling said: "The significant improvement in profitability achieved by all of our businesses in the current environment is a testament to the way the company does business. The merits of a prudent business strategy and strong corporate governance, supported by experienced boards & management, have been well demonstrated again this year."The directors have declared a fully imputed 13c/share final dividend. Including the interim 10c/share, the year’s dividends are up 2c.
Attribution: Company release, story written by Bob Dey for this website.