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Rangatira Limited net surplus after tax of $3.2mn

PRESS RELEASE

Rangatira Limited achieved a net surplus after tax of $3.2 million for the six months to 30 September 2004 ($7.9 million last year).

Operating earnings were $2.0m compared with $1.9m last year. The net surplus included $1.2m Gains from Realisation of Investments (last year $3.4m; last year’s result also included a Revaluation Reversal Gain of $2.6m).

Company Chairman Murray Gough said, “Listed companies in New Zealand and Australia continue to show good earnings growth, and Rangatira’s unlisted investments are also performing steadily. We expect the economic environment to remain generally positive, although currency and capacity issues are an increasing concern”.

A fully imputed interim dividend of 15 cents has been declared (last year 15c imputed to 4.1c) and will be paid on 10 December 2004. Shares will trade ex-dividend from 6 December 2004.

Ends

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