29 Aug 2011

PGG Wrightson Finance profit falls

12:41 pm on 29 August 2011

Rural finance firm PGG Wrightson Finance has reported a reduced profit.

The listed company made $3.3 million in the year to June, a decrease of 44% on the previous year.

Net interest income fell 24% to $21.6 million.

PGG Wrightson Finance has been sold by its parent, PGG Wrightson, for $100 million to Heartland New Zealand to reduce debt.