27 Nov 2009

NZ Finance returns to profit

3:49 pm on 27 November 2009

New Zealand Finance has made a profit of $2.9 million in the six months to September, thanks to a write back of previously impaired loans and a net gain on interest rate swaps.

That's a turnaround from the $4.8 million dollar loss in the same period a year ago.

Revenue fell 22% to $16.8 million.