Rangatira first-half profit falls 39 percent on ‘lumpy’ contract work at Contract Resources

Wed, 28 Nov 2012

Nov. 28 (BusinessDesk) - Rangatira, the Wellington-based investor that is adding the Rainbow’s End theme park to its portfolio, reported a 39 percent decline in first-half earnings, reflecting the ‘lumpy’ timing of work at its half-owned Contract Resources. Profit fell to $3 million in the six months ended Sept. 30, from $4.4 million a year earlier, the company said in a statement. It kept the interim dividend payment unchanged at 18 cents a share The company said full-year operating earnings would rise between 10 percent and 20 percent. “T...

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