Monday 7th July 2008
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The company said its rural lending and financing focus has helped buffer it from the credit squeeze that's hurt other financial firms.
"Investing in secured lending for farming purposes is a strong proposition, with the rural economy generally well-positioned for future performance," Michael Thomas, general manager of financial services, said in a statement.
Wrightson Finance merged with PGG Finance in March 2006, with the merger of their parent companies, initially creating a firm with a loan book of NZ$285 million. The value of loans had reached NZ$500 million by May this year.
PGG Wrightson Ltd shares fell 1.6% to NZ$2.51.
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