Pyne Gould Corporation Limited

Type: Company

Name: Pyne Gould Corporation Limited

Fact Sheet: Fact Sheet for Pyne Gould Corporation Limited

First reported Jun 13 2013 - Updated Jun 13 2013 - 2 reports

Torchlight business big boost for PGC's profit

Pyne Gould Corporation has flagged a $30 million profit for the June year, boosted by asset sales.The Canterbury investment firm has sold most of its businesses to focus on its Torchlight asset management operation.PGC managing director George Kerr said ... [Published stuff.co.nz - Jun 13 2013]

Entities: Heartland New Zealand Ltd, Pyne Gould Corporation Limited, Real Estate Credit Investments Limited, PGG Wrightson Ltd

First reported Jun 13 2013 - Updated Jun 13 2013 - 2 reports

Pyne Gould lift profit expectation

Pyne Gould Corporation has lifted its profit expectation to 30 million dollars for the year to 30th June.It had previously indicated 10 million dollars profit, attributable to the strong performance of Torchlight.The company says the additional 20 million ... [Published Newstalk ZB - Jun 13 2013]

Entities: Pyne Gould Corporation Limited, Heartland New Zealand Ltd, Overseas Investment Office

First reported Jun 12 2013 - Updated Jun 12 2013 - 2 reports

Pyne Gould says FY profit to be about $30 mln after asset sales

June 13 (BusinessDesk) - Pyne Gould, the asset management firm controlled by George Kerr, says it will return to profit this year on gains from assets sales after an impairment-driven loss in 2012. Profit ... ... [Published Yahoo! Xtra Business - Jun 12 2013]

Entities: Pyne Gould Corporation Limited

First reported Jun 06 2013 - Updated Jun 06 2013 - 1 reports

Heartland cuts ties with Kerr

Heartland New Zealand has announced a NZ$18 million write-down of bad real estate loans inherited from its formation, in 2011, when property financier Marac merged with two building societies and a rural lender.Heartland originally carved off $139 million ... [Published Banking Day - Jun 06 2013]

Entities: Heartland New Zealand Ltd, Pyne Gould Corporation Limited, Real Estate Credit Investments Limited

First reported Jun 04 2013 - Updated Jun 05 2013 - 5 reports

Heartland shares hit 2-year high as market embraces $18m write-down

has changed its business strategy and will book an $18 million write-down on distressed loans and investments, which will this financial year result in its after-tax profit cut from an estimated $25 million to $7 million.However, the move was embraced ... [Published Otago Daily Times - Jun 05 2013]

Entities: Writedowns, Stocks, Property

First reported May 30 2013 - Updated May 30 2013 - 1 reports

Agria Corporation

Agria Announces Resignation of Managing Director of Subsidiary PGG Wrightson Marketwired

) - $ Agria Corporation (NYSEPGW Chairman Sir John Anderson acknowledged Mr. Gould's key contributions as Managing Director, noting "George's experience in and love of rural servicing were key qualifications that he applied to restore PGW to a position ... [Published Yahoo! Finance - May 30 2013]

Entities: Agria Corporation, PGG Wrightson Ltd, Resignation, Pyne Gould Corporation Limited, US Securities and Exchange Commission

First reported May 30 2013 - Updated May 30 2013 - 6 reports

PGG Wrightson Ltd

Gould to leave PGG Wrightson

He stepped into the role when the company was going through a rocky period.Former managing director Tim Miles made a surprise exit from the rural services company in 2010 at a time of under-performance.After his exit, an ex gratia payment of $3 million ... [Published Timaru Herald - May 30 2013]

Entities: PGG Wrightson Ltd, John Anderson, Tim Miles

First reported May 30 2013 - Updated May 30 2013 - 1 reports

Heartland Bank comfortable with previous profit guidance as outcome of non-core property review nears

By Gareth VaughanHeartland Bank plans to announce the result of a review of its non-core property portfolio by the end of June and is still comfortable with analysts' expectations it'll deliver full-year profit of up to $24 million. Heartland's General ... [Published Interest.co.nz - May 30 2013]

Entities: Property, Real Estate Credit Investments Limited, CBS Canterbury, MARAC Finance Limited, Pyne Gould Corporation Limited

First reported May 30 2013 - Updated May 30 2013 - 1 reports

PGG Wrightson Managing Director Steps Down

PGG Wrightson has announced that its Managing Director, George Gould, will stand down on 31 August 2013.PGG Wrightson Chairman, Sir John Anderson, acknowledged the contribution Mr Gould has made to PGG Wrightson since agreeing to be Managing Director ... [Published Scoop - May 30 2013]

Entities: PGG Wrightson Ltd, Pyne Gould Corporation Limited, John Anderson

Quotes

...shunted $147 million worth of property loans from its then subsidiary Marac over to fellow subsidiary RECL in 2010 Yesterday Kerr went on to say; "The exit from RECL is a clean end to the substantial and wide-ranging support provided by PGC in the rescue of Marac and creation of Heartland." That may be. But what cast iron guarantee can Heartland provide that yesterday's hit from its non-core property holdings is a full and final one?

Heartland's property quagmire [Published Interest.co.nz - Jun 06 2013]

"We consider that Heartland's projected risk-adjusted capital ratio after the write-downs will remain more than 15% over the medium to long term. This level supports our current very strong assessment of the bank's capital and earnings, and the current issuer credit rating" Standard and Poor's said

Heartland shares hit 2-year high as market embraces $18m write-down [Published Otago Daily Times - Jun 05 2013]

"The new strategy provides Heartland with greater flexibility to manage the property portfolio and to best balance an exit strategy with maximising shareholder value" it said

Heartland cuts 2013 forecast [Published MSN New Zealand - Jun 04 2013]

"While the cost is uncertain, recognising a write-down up front removes the potential for property losses to detract from underlying earnings in the future" the bank said

Heartland takes a big hit [Published Sunday Star-Times - Jun 04 2013]

More Content

sort by: Date \| Relevance
Torchlight business big boost for PGC's profit [Published stuff.co.nz - Jun 13 2013]
Asian Stocks Tumble On Fed Worries; Japan Enter... [Published RTTNews.com - Jun 13 2013]
Pyne Gould lift profit expectation [Published Newstalk ZB - Jun 13 2013]
Pyne Gould lift profit expectation [Published Yahoo! Xtra Business - Jun 13 2013]
MARKET CLOSE NZ shares fall to 2-month low; HLG... [Published Scoop - Jun 13 2013]
Asset sales boost PGC profit [Published Timaru Herald - Jun 13 2013]
Pyne Gould says FY profit to be about $30 mln a... [Published Yahoo! Xtra Business - Jun 12 2013]
Pyne Gould FY profit to be about $30 mln after ... [Published Scoop - Jun 12 2013]
Heartland's property quagmire [Published Interest.co.nz - Jun 06 2013]
Heartland cuts ties with Kerr [Published Banking Day - Jun 06 2013]
Heartland shares hit 2-year high as market embr... [Published Otago Daily Times - Jun 05 2013]
Heartland shares rise to 2-year high after impa... [Published Scoop - Jun 05 2013]
Heartland cuts 2013 forecast [Published MSN New Zealand - Jun 04 2013]
Heartland takes a big hit [Published Sunday Star-Times - Jun 04 2013]
Heartland cuts 2013 guidance on bad loans charge [Published Scoop - Jun 04 2013]
Gould to leave PGG Wrightson [Published Timaru Herald - May 30 2013]
Agria Announces Resignation of Managing Directo... [Published Yahoo! Finance - May 30 2013]
Agria Announces Resignation of Managing Directo... [Published OSIX News - May 30 2013]
PGG Wrightson managing director steps down [Published The Press NZ - May 30 2013]
Heartland Bank comfortable with previous profit... [Published Interest.co.nz - May 30 2013]
Gould steps down [Published Good Returns - May 30 2013]
George Gould departure as PGW head flagged [Published stuff.co.nz - May 30 2013]
PGG Wrightson managing director Gould to step d... [Published Sharechat.co.nz - May 30 2013]
PGG Wrightson Managing Director Steps Down [Published Scoop - May 30 2013]
PGG Wrightson managing director to step down in... [Published National Business Review - May 30 2013]
Many dead, scores missing following 6.3 magnitu... [Published Topnews.in - Feb 22 2011]
Fact Sheet for PGG Wrightson Ltd [Published Silobreaker - Jan 15 2010]
Fact Sheet for Pyne Gould Corporation Limited [Published Able2Act - Apr 17 2008]