Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


PGC misses deadline to publish audited accounts

PGC misses deadline to publish audited accounts

By Tina Morrison

Oct. 1 (BusinessDesk) - Pyne Gould Corp, the Guernsey-based asset management firm controlled by George Kerr, said it missed yesterday's deadline to submit its final audited accounts for the 2014 year to the stock exchange because of a delay in auditing one of the larger property investments in its Torchlight Fund.

"PGC expects to be able to release its final audited full-year accounts and annual report within a fortnight," Kerr said in a statement to the exchange. "We expect the net profit after-tax result to be consistent to that released in August."

In August, the company said net profit fell to $20.1 million in the 12 months ended June 30 from $45.2 million a year earlier, in line with its forecast.

Should PGC fail to issue its annual report within five business days of the due date, by the market close on Oct. 8, then the company's shares will be suspended from the start of trading on Oct. 9, according to a statement from NZX Regulation, which cites the stock exchange's listing rules.

Shares in PGC last traded at 39 cents and have shed 19 percent so far this year.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Conservation Win: Mice Eradicated From Antipodes Island

In a world-leading conservation effort, mice have been successfully eradicated from Antipodes Island in the New Zealand Subantarctic, Conservation Minister Eugenie Sage announced today... More>>


Transport Tech: Roadmap To Harness $1.5 Bn Sector

A new Future Technology Leadership Group will help New Zealand harness some of the $1.5 billion a year estimated value to the economy from Intelligent Transport Systems (ITS) as well as the social benefits they create... More>>


Economy: GDP Rises On Strength In Services

The economy, as measured by gross domestic product (GDP), grew 0.6 percent in the December 2017 quarter, Stats NZ said today. Growth was driven by increases in the service industries but was tempered by falls in the primary sector. More>>


Dolphins In Danger: More measures to protect

Fisheries Minister Stuart Nash and Conservation Minister Eugenie Sage are accelerating work to improve protection of the nationally endangered Hector’s dolphin, after five were accidentally killed in a fishing net off Banks Peninsula. More>>


Innovative Partnerships:Govt Launches R&D Programme

Research, Science and Innovation Minister Megan Woods has today formally launched the Innovative Partnership programme which aims to attract future-focused international innovators and firms to undertake R&D and develop their products in New Zealand.... More>>


Planes And Oil: Current Account Deficit Widens To $2.0 Billion

New Zealand's seasonally adjusted current account deficit widened to $2.0 billion in the December 2017 quarter, Stats NZ said today. The $407 million increase in the deficit was mainly driven by New Zealand importing aircraft and other transport equipment, and crude oil. More>>


RMTU: Lyttelton Port Strike

Sticking points now include LPC’s insistence on docking the pay of workers who didn’t take part in strike action last week – because they withdrew the strike notice. “In our view this amounts to an illegal lockout.” More>>


"Licensed To Krill": Greenpeace Report On Antarctic Fishing

A new Greenpeace investigation has exposed the environmental risks of the fast-growing krill industry in one of the most pristine parts of the Antarctic Ocean. More>>