Gerry Harvey’s NZ horse breeding business narrows FY loss

Mon, 06 Jan 2014

Jan. 6 (BusinessDesk) – NZ Thoroughbred Holdings, the horse breeding business owned by Australian retailing billionaire Gerry Harvey, narrowed its full-year loss after recognising a gain on the value of its animals. The net loss was $3.97 million in the 12 months ended June 30, 2013, from a loss of $5.28 million a year earlier, according to the company’s annual report. Revenue fell to $3.8 million from $3.99 million, while other income jumped to $3.3 million from $1.56 million, mainly reflecting a gain on biological assets. The company, whos...

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