3 Aug 2011

Heartland profit forecast issued

7:16 am on 3 August 2011

Heartland says its annual profit after-tax is forecast to be between $6 million and $8 million, in line with market guidance.

The company is due to release its annual result on 19 August.

It says the result will include substantial one-off costs associated with the successful merger, meeting bank standards and expansion.

Heatland says the forecast profit after tax following the intended acquisition of PGG Wrightson Finance, in the 2012 financial year, is expected to be in the range of $20- $24 million.

Heartland also plans to offer an employee share plan.