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.
BusinessDesk.co.nz
No comments yet
Fonterra appoints permanent COO
Manawa Energy FY24 Annual Results & Webcast Details
Seeka Provides the Results of Meeting - ASM
April 19th Morning Report
PGW Guidance Update
CNU - Commerce Commission releases draft expenditure decision
Spark announces departure of Product Director
TGG - T&G appoints new Director
April 18th Morning Report
SKC - APPOINTMENT OF CHIEF EXECUTIVE OFFICER