Dorchester narrows first-half loss, forecasts FY profit helped by EC Credit

Thu, 22 Nov 2012

Nov. 22 (BusinessDesk) – Dorchester Pacific, which avoided failure in 2010 by convincing investors to accept a debt-for-equity swap, narrowed its first-half loss and reiterated its target for a full-year profit, helped by earnings from recently acquired debt collector EC Credit Control. The shares climbed 8 percent to 27 cents on the NZX, bringing their gain this year to about 207 percent. The net loss was $87,000 in the six months ended Sept. 30, from a loss of $993,000 a year earlier, the Auckland-based company said in a statement. Operatin...

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