Pyne Gould turns to annual loss on Wilaci payment, expects $17M from Complectus

Tue, 29 Aug 2017

By Sophie Boot Aug. 30 (BusinessDesk) - Pyne Gould Corp, the financial services firm controlled by managing director George Kerr, turned to an annual loss due to the 20.54 million British pounds cost of its Supreme Court-ordered payout to Wilaci Pty. The NZX-listed, Guernsey, UK-based company posted a loss of 17.12 million pounds in the year ended June 30, from a 6.46 million pound profit in 2016, due to recognising the "abnormal expense" of the payment to Wilaci, which the Supreme Court confirmed in July when it denied leave to appeal a...

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