Pyne Gould returns to 1H profit, sees full-year earnings, Perpetual sale

Fri, 01 Mar 2013

March 1 (BusinessDesk) – Pyne Gould Corp, the asset management company controlled and managed by George Kerr, reported a return to first-half earnings and forecast a full-year profit, reflecting year-earlier charges that won’t be repeated in the current period. Profit was $1.5 million in the six months ended Dec. 31, from a loss of $27.1 million a year earlier, when it recognised impaired asset expenses and investment writedown of $29 million. Net operating income from continuing operations rose to $11 million from $10.9 million. Kerr unsucc...

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