PGG Wrightson

PGG-Wrightson - controlled by Singapore-based Agria - has delivered a turnaround result from last year's first-half loss of almost $6 million for an after-tax profit of $3.1 million.

Prices for most types of wool finished cheaper than the previous sale a week ago, at the last wool sale for the year in Christchurch.

PGG Wrightson is establishing an office in Beijing, aimed at delivering revenue and profit generating business for the company in China.

PGG Wrightson has transferred the assets of the international Wools of New Zealand (WNZ) and Laneve brands to the Wools of New Zealand Trust, a 100% grower-owned entity.

Heartland New Zealand's acquisition of PGG Wrightson Finance has been finalised.

Heartland New Zealand retail depositors continued to demonstrate strong loyalty, group treasurer Craig Stephen said yesterday.

PGG Wrightson has recorded a net loss after tax of $30.7 million for the year ended June - a year which the rural services company has described as "defining".

Prices for most styles of wool finished cheaper again at this week's combined sale of North Island and South Island wool in Christchurch.

The proposed Heartland bank will seek an extra $3 million to take its overall capital raising to $58 million, to go towards the $100 million purchase of listed PGG-Wrightson's rural loan book, valued at up to $430 million.

PGG Wrightson has taken direct control of Wool Partners International (WPI), with WPI trading from today as PGG Wrightson Wool.