Dorchester lifts profit guidance, flags dividend and signals capital restructure for M and A

Tue, 30 Apr 2013

By Paul McBeth May 1 (BusinessDesk) - Dorchester Pacific, which avoided failure in 2010 by convincing investors to accept a debt-for-equity swap, has upped its profit guidance, flagged an intention to start paying dividends, and will re-jig its capital structure to help fund future acquisitions. The Auckland-based firm says profit was about $1.6 million in the year ended March 31, having previously said it would be between $1.2 million and $1.3 million, it said in a statement. That's seen as rising to $6 million in 2014, before lifting to $...

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