Sharechat Logo

Rangatira holds first-half dividend at 20 cts

Monday 8th December 2014

Text too small?

Rangatira, the Wellington based investment group, kept its first half dividend unchanged at 20 cents a share after posting a drop in first half profit that mainly reflected the year earlier sale of its stake in Contract Resources.

Profit was $3.9 million in the six months ended Sept. 30, from $30.8 million a year earlier, which included $29.7 million in gains from asset sales, the Wellington based company said in a statement.

Operating earnings climbed to $2.8 million from $1.8 million, and the company said it expects a seasonal increase in sales for the second half from unlisted investments such as Hellers, Polynesian Spa, Rainbow's End and Tuatara Brewing Co.

Rangatira increased its holding in Magritek, a magnetic resonance imaging firm, to 18 percent from 12 percent in the first half after the manufacturer met sales targets. 

The company said the asset backing of its shares fell to $10.76 as at Sept. 30 from $11.20 at March 31, as a result in a decline in the value of investments, including Xero.

Rangatira has two classes of shares that trade on the Unlisted platform, with 67 percent held as class ‘A’ shares and 33 percent in class ‘B’ shares to differentiate between charitable and non-charitable shareholders.The class A shares last traded at $9.50 and its class B shares at $9.30.


  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZ dollar bounces off four-year low; seen weaker
Vector urges regulatory change in low-interest-rate environment
Vector urges regulatory change in low-interest-rate environment
Govt moves against surprise Supreme Court 'black hole' tax ruling
Qantas CFO Race Strauss to join A2 Milk as CFO
Climate Committee seeks data, evidence for future carbon budgets
Spark's wobbly world cup start raises stakes for live-streaming - analysts
An algorithm dunnit: anatomy of Spark's mid-match surrender
Stanley-Tallwood liquidator cuts deal over KiwiBuild development
Stanley-Tallwood liquidator cuts deal over KiwiBuild development

IRG See IRG research reports