Gerry Harvey's NZ Thoroughbred unit narrows annual loss as sales jump 35%

Tue, 06 Dec 2016

By Jonathan Underhill Dec. 7 (BusinessDesk) - Australian retailing billionaire Gerry Harvey's local bloodstock business, NZ Thoroughbred Holdings, narrowed its annual loss in 2016 as revenue rose 35 percent on sales of yearlings and demand for its stallions. The owner of Westbury Stud posted a loss of $2.9 million in the year ended June 30, down from $6.1 million a year earlier, according to its financial statements. Total income rose to $10.1 million from $7.5 million, led by sales of yearlings, stud fees and an increase in foals. The...

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