12 Apr 2010

South Canterbury Finance posts loss

6:57 am on 12 April 2010

South Canterbury Finance has announced a loss of more than $191 million in the six months to the end of December.

The accounts for the period were published late on Friday, more than a week after they were due.

They show that its loss has widened from the $155 million recorded in a preliminary report published last month.

The company has also increased its provision for the write down of bad loans to $194 million.