29 Oct 2009

PGG Wrightson says sorry to shareholders

8:22 pm on 29 October 2009

The rural services firm PGG Wrightson has apologised to its shareholders for a disappointing performance.

At its annual meeting in Auckland, the debt-laden company faced questions about the failed Silver Fern Farms tie up, which saw PGG pay the meat processor nearly $50 million in compensation.

PGG Wrightson's chairman Keith Smith says the deal was disastrous and shareholders have been let down badly.