Pyne Gould's Reid benefits

Friday 1st March 2002

Pyne Gould Guinness delivered good news to the market following last September's merger with Reid Farmers.

The increased size of the company was evident in the jump in sales for the six-month interim period ending December 2001 from $53.8 million to $121.5 million, with total assets up from $136 million to $277 million and liabilities up from $93 million to $185 million.

After-tax profit was $4.6 million. Directors will consider a dividend at the end of the financial year.

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