Advice to Communications Minister Steven Joyce confirmed he
did not face a conflict of interest when the Government
provided a $43.3 million loan to MediaWorks, a company in
which Mr Joyce once had a considerable stake.
The Government accounts are forecast to become significantly
worse in coming months as the impact of the Christchurch
quake becomes clear, but the ones released yesterday provide
some encouraging signs.
Briscoe Group reported an improved operating profit for the
year ended January 30 and announced an improved final
dividend of 6c per share. Earnings before interest and tax
(ebit) were up 8.8% to $32.76 million and profit after tax
was up 14.6% to $24.1 million.