Pyne Gould FY profit more than halves as asset sales end, mulls restarting dividend

Fri, 29 Aug 2014

By Paul McBeth Aug. 29 (BusinessDesk) - Pyne Gould Corp, the Guernsey-based asset management firm controlled by George Kerr, more than halved its annual profit after completing its asset sale programme and is eyeing a return to paying dividends. Net profit fell to $20.1 million, or 9.5 cents per share, in the 12 months ended June 30 from $45.2 million, or 20.5 cents, a year earlier, the company said in a statement. That was in line with last week's guidance, and included a $22.5 million gain on the sale of its financial services units in...

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