Bethunes narrows first-half loss as Retail Property break fee bolsters income

Fri, 10 Nov 2017

By Rebecca Howard Nov. 10 (BusinessDesk) - Bethunes Investments narrowed its first-half loss after benefitting from a break fee when Westgate Power Centre-subsidiary NZ Retail Property Group terminated a proposed reverse listing transaction. Auckland-based Bethunes said its net loss shrank to $9,473, or 0.01 cents per share, in the six months ended Sept. 30 from a loss of $111,962, or 0.1 cents, a year earlier. The $75,000 break fee bolstered revenue after the real estate investor decided it wasn't a good time to raise capital. The stock...

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